Know Your Customer (KYC) & Anti Money Laundering (AML )
Under UK Law, Estate Agents are required to carry out AML checks in line with regulations and guidance set out by HMRC. We use an online company called Landmark Agent in partnership with Credas and they will undertake the following checks.
- Photographic Identification: a passport, driving license, or any official document with a photograph.
- Residential Details: Permanent address, typically verified using a utility bill, bank statement, or driving license
- Proof of Ownership - online check at the Land Registry
- ID verification – Electronic/online remote client identity check and verification with biometric facial recognition technology.
- PEPs and sanctions– Individuals to be checked against the Government database.
- Credit Check
We are also obliged to establish, verify and confirm the source and wealth of funds or monies for both part or all cash purchases - prior to entering a transaction.
Mr Chandra Shah is our Compliance Officer and his role is to advise and oversee the processes and procedures we take when conducting our due diligence on a new client and/or property. Mr Shah regularly attends various AML seminars and webinars and updates us of any changes or new legislation or requirements on a weekly basis.
UK Gov Anti Money Laundering Supervision
Registration Number XHML00000101810