Frequently Asked Question

Anti-money laundering compliance: this is the summary as included in our Terms and Conditions

Policy updated 18 August 2023

As an obliged entity in terms of Money Laundering Regulations (MLR) we cannot enter into a business relationship with you until we have completed AML checks. These are summarised as:

a) identified who we are dealing with b) AML risk assessed you and b) verified your ID for anti-money laundering purposes.

Verification will include verification of your ID and proof of address, or that of your owners plus:

• If you are a company we must verify your registration the Persons of Significant Control (PSC) register.
• If you are a trustee, settlor or beneficiary of a UK trust or a non-UK trusts with UK assets we must verify that the trust has been registered on the Trust Registration Service (TRS).
• If you are an overseas person with a "relevant interest" in UK land we must verify that you been registered Register of Overseas Entities (ROE).
• If you are an accountancy service business, tax business, trust and service company providers, an estate agent or lettings business, a high value dealer or any other regulated business type we also require your AML registration details with HMRC unless you are registered for AML with a professional body supervisor, if so we require your membership number with your professional firm.
  

AML professional firms: we can rely on your ID checks performed in respect of your relevant client if you give us permission to do so. This is enabled when you raise a support ticket. We must still AML check you as a firm before we enter into a professional relationship with your firm.

Please see the other help topics in this section for the CCAB guidance to accountants and use of a third party's AML data.