Anti Money Laundering Requirements

Anti-Money Laundering Requirements

 
Due to a tightening on Anti-Money-Laundering regulations by UK Estate agents, Homes or Houses are now required to provide the vending agents with the following certified documents upon acceptance of an offer to purchase on a property. Below is specified criteria that all property purchaser is now required to meet.
 

Proof of Identity

The primary form of identification must bear a photograph and signature. Copies must also be certified as a true copy of the original, and must be valid, up to date and be signed by the holder.

  • Full UK or foreign passport that has the Machine-Readable Zone
  • Full UK or foreign photocard driving licence
  • Photocard national identity card that has the Machine-Readable Zone

 

Proof of Address

The second form of identification must confirm the purchasers permanent residential address.

  • Letter/bill from utility company (less than 3 months old) or a water bill, which must relate to the current charging period). The letter you receive must confirm you receive a service from the company and cannot be printed from the internet. Mobile phone bills are not accepted.
  • UK council tax bill (for the current year)
  • Full UK photocard driving licence bearing residential address (if not already used as your proof of identity)
  • UK or foreign bank credit card / bank statement (dated within the last three months and not printed from the internet)
  • UK mortgage statement (dated within the last 12 months and not printed from the internet).


Note:

We are unable to accept utility bills printed off the internet. Online bank statements may only be accepted as ‘Proof of Address’ if stamped and certified bearing the account holder’s address. Mobile telephone bills, store card statements and any documents showing a "care of address" or non- residential address cannot be accepted.
 

Certification of Documents

Documents can be certified by: (Please note that individuals within the above categories in most countries are acceptable but exceptions may apply.)

  • A director, manager or bank counter staff of a bank or an authorised credit or financial institution.
  • An Embassy, consulate or high commission officer in the country of issue.
  • A qualified lawyer or attorney registered with the relevant national professional body in the jurisdiction of country of issue.
  • A qualified accountant registered with the relevant national professional body in the jurisdiction of country of issue.
  • A notary public, a member of the judiciary, a senior civil servant or a serving police officer in the jurisdiction of country of issue.

 

Certification Requirements

The certifier should provide the ‘certification’ directly on the copy of the document, providing the following information: -

  • Print (in capitals), Sign and Date the copy document
  • Clearly indicate his/her position or capacity
  • Provide his/her contact details, including the name and address of the company/institution that they represent and any registration numbers if applicable.
  • The certifier must state “I certify this is a true copy (and true likeness if photo present) of the original document.”

Please note that independent certification is HCA requirement (Homes & Communities Agency) and we may have no option but to return documents that are not certified in accordance with the guidelines.
 

What is 'Anti Money Laundering - AML'

Anti-money laundering (AML) refers to a set of procedures, laws, and regulations designed to stop the practice of generating income through illegal actions. Though anti money laundering laws cover a relatively limited number of transactions and criminal behaviours, their implications are far-reaching. For example, AML regulations require institutions issuing credit or allowing customers to open accounts to complete due- diligence procedures to ensure they are not aiding in money-laundering activities. The onus to perform these procedures is on the institutions, not on the criminals or the government.