ID & Money Laundering

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017) came into force on 26 June 2017, replacing the Money Laundering Regulations 2007.  We must comply with our legal obligations under the Proceeds of Crime Act 2002, the Terrorism Act 2000 and the MLR 2017 and under the Council for Licensed Conveyancers Code of Conduct.

We are therefore under a legal obligation to ensure we have procedures in place designed to combat money laundering/terrorist financing.  The very strict rules are in place to ensure criminals and terrorists do not use us as a way to launder money derived from criminal activities.  One of the procedures we have in place is to ensure we are certain who we are acting for and the purpose of any transaction.  If we fail to spot money laundering when we should have, we can face criminal charges therefore we take this matter very seriously.

All staff have been trained to spot attempts to launder money and other illegal transactions and regular training is provided. Our procedures are constantly updated to ensure your protection and ours.

Therefore, when we ask you for proof of your identity, address and questions regarding the source of funds please do not be alarmed.  We do understand it may feel intrusive, but we hope you appreciate it is necessary, and we will not proceed to act until our requirements are met.  If you are unwilling or unable to provide such information and evidence, we reserve the right to decline to act for you.

In addition, you should also be aware that if there are any circumstances which would appear to be suspicious it is our duty to report them to the appropriate authorities.

Please note we do not accept cash over £330.  Further details regarding this matter are contained in our terms and conditions and can be discussed with us direct, and we do appreciate your co-operation.

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As with all previous advice I have received from Hanslip Ward, I consider the advice to reflect the highest standard, and I thank you for taking on my case in these unfortunate circumstances.
Mr & Mrs Epstein

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