New Anti-Money laundering (AML) Legislation
As of the 1st of July 2018 new legislation called the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 will take effect for lawyers.
The purpose of this new law is aimed to help combat money laundering and terrorist financing, and to help Police bring the criminals to justice.
Information needed before acting for you
In order to comply with these requirements, we need to request more information from our prospective and existing clients:
– your full name; and
– your date of birth; and
– verification of your residential address.
Therefore please refer to our identification requirements set out in here.
If you are seeing us about company or trust business, we will also need information about the company or trust including the people associated with it (such as directors and shareholders, trustees and beneficiaries).
We will need to ask you about the nature and purpose of the proposed work you are asking us to do for you. Information confirming the source of funds for a transaction may also be necessary to meet the legal requirements.
If we are not able to obtain the required information from you, it is likely we will not be able to act for you. Because the law applies to everyone, we need to ask for the information even if you have been a client of ours for a long time.
Please contact the lawyer who will be undertaking your work, or our General Manager, Simon McVie email@example.com if you have any queries or concerns.