MONEY LAUNDERING CHECKLIST
THE MONEY LAUNDERING REGULATIONS 2003 - VERIFICATION OF IDENTITY
Practice of the Regulations
We are required under the terms of the Anti Money Laundering regulations to identify each client by obtaining originals of two identity documents.
The information from these documents is for our own records, and so that we can supply Investment Managers with adequate identity verification when an investment is made.
Most Investment Managers will ask us to provide identity verification each time a client makes an investment, and can decline to process an application without sufficient documentation.
What we need from you
Please supply originals of two of the following, one from each column. Please also read the accompanying notes as these are important. If your address has changed in the last 3 months please provide evidence for both addresses.
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Current full signed Passport
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Current Utility Bill (not mobile 'phone)
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Resident Permit issued to EU Nationals by Home Office
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Most Recent Mortgage Statement
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Current UK / EU Driving Licence - photo or old style 1
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Current UK / EU Driving Licence - photo or old style 1
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State Pensions / Benefits book or notification letter 1
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State Pensions / Benefits book or notification letter 1
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Inland Revenue Tax Notification
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Current Local Authority tax bill / rent card / tenancy agreement
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Firearms / Shotgun Certificate
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Bank / Building Society / Credit Card Statement
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Sub Contractors Certificate
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Solicitors letter confirming house purchase / land registration
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Home or Motor Insurance Certificate
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NOTES: 1 These documents can be used as EITHER proof of name OR proof of address but cannot be used for both, a minimum of two separate items of verification are required.
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How to avoid having to supply this documentation again
- A "Current" document is defined as any document before its stated expiry date, e.g. a passport. Also regular statements must be for the current year (if an annual statement), in the current quarter (if quarterly), or in this month of the previous month (if monthly).
- Some documents last longer than others e.g. a bank statement will only be valid for a couple of months. If you supply your Passport and Driving Licence as the two proofs of I.D. then these can be satisfactory for a number of years until either document reaches its expiry date, as long as the details remain current.
- If you are planning to meet with an Adviser in the near future then you can bring the documents to the meeting and they can be copies there and then, this saves having to submit them through the post.
What we do with this information
Certified copies are taken and held on your client file, these copies (or identity information from them) are forwarded to investment managers upon request, as initiated by an application form or contribution.
We are not normally required to forward your original documents to the investment managers, only certified copies. If you are unable to provide original documentation we can accept copies certified by a UK lawyer, banker, authorised financial intermediary, MCCB regulated mortgage broker, accountant, teacher, doctor, minister of religion, or post master/sub-post master. However, we could only supply a Certified Copy of a document to a single investment manager and therefore another certified copy would have to be obtained each and every time identity verification is requested.
Need More Help?
If any of the above is unclear, you are unsure why you have been asked to provide identity verification, or you think you have supplied sufficient information previously then please do not hesitate to contact us. It is often the case that we have part of the information needed on file already and only require you to send one item.
If you have any queries, please contact your normal adviser; or our Administration Team on 0870 2422043 or enquiries@clarityglobal.com.
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