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Anti-Money Laundering Procedures
Government Regulations mean you must prove who you are before we can deal with your Conveyancing
The Reason Why?
The United Kingdom is a major international financial and legal centre. It is for this reason that financial and professional businesses like banks, building societies and conveyancing service providers are attractive to money launderers- criminals who will look at the conveyancing market to hide stolen money by turning it into legitimate income.
- To try and prevent this the government has introduced the following measures:
- To make it more difficult for criminals to make and keep money from the crimes
- To confiscate the proceeds of crime
For this reason, there are compulsory checks which Conveyancers have to make of their clients. Being asked for identification does not mean that you are under suspicion. These requirements apply to all clients instructing solicitors /Conveyancers in a conveyancing transaction.
How this affects you?
You will be requested to provide the required identification to us and we will also carry out an initial electronic identity check.
If you are having part or whole of the monies provided by a third party eg a gift from a relative or friend to assist you it will also necessary for you to let us know as soon as possible as these persons must also provide the necessary identification and provide information as to the source of these funds to us.