THE PROCEEDS OF CRIME ACT 2002
(The Money Laundering Regulations 2007)
The Act and Regulations imposes a duty on all forms of Solicitors to report any SUSPECTED cases of MONEY LAUNDERING to NCA [National Crime Agency]. It is a criminal offence not to do so.
Therefore, we at Carter Read & Dove, Solicitors LLP (CRD), have created a strict POLICY for the benefit of ourselves and our clients.
The Policy of Carter Read & Dove will now be only to receive money from you in the following manner:
1. Personal Cheques in EXCESS of £8,000 drawn on your own bank account will only be accepted, with written evidence from your bank as to the source of those funds. These cheques will be subject to a 7 day clearing period.
2. Personal Cheques can no longer be accepted after the exchange of contracts in excess of £8,000.
3. Funds in EXCESS of £8,000 [other than Personal Cheques as above] will only be accepted by CRD by one of the following methods:
- By BACS payment direct from your own bank account to CRD's account;
- By TELEGRAPHIC TRANSFER direct from your own bank account to CRD's account;
- By BANKER'S DRAFT
- By pre-printed BUILDING SOCIETY CHEQUE
4. It will not be possible to accept any CASH in excess of £500 at any time during the transaction and any acceptable CASH amount must be received in this office no later than 2pm on a working day to comply with the firm's insurance requirements.
More information is contained in our CRD client care letter.
NON-COMPLIANCE with our POLICY will lead to a report being made to NCA if we have reason to suspect MONEY LAUNDERING - It is the LAW.
Proof of identity
The law now requires solicitors, as well as banks, building societies and others, to obtain satisfactory evidence of the identity of their client. This is because solicitors who deal with money and property on behalf of their client can be used by criminals wishing to launder money. In order to comply with the law on anti-money laundering, we need to obtain evidence of your identity as soon as practible. We should be grateful, therefore, if you would provide us with documents to verify your IDENTITY AND ADDRESS, as set out hereafter.
In order to achieve this, please either bring to this office or post to us immediately the following original documents (posted documents will be returned forthwith by 1st class mail or recorded delivery at your expense if you specifically request this in writing to us):
- A valid full passport; or
- A valid HM Forces identity card with the signatory's photograph.
Together with any two of the following [for each of you]:
- A UK bank debit or credit card original statement less than 3 months old noting your address;
- A receipted utility bill less than three months old;
- A council tax bill less than three months old;
- A council rent book showing the rent paid for the last three months;
- A mortgage statement for the mortgage accounting year just ended;
- A firearm and shotgun licence.
- A letter written on Headed Notepaper from a ‘person of standing’ i.e. an Employer/Doctor etc.
Please note that driving licences are generally not accepted as proof of identification.
If you are unable to supply sufficient identification in accordance with this list, please contact the writer immediately.
PLEASE NOTE we take our responsibilites and obligations in respect of Anti-Money Laundering Legislation and Regulations extremely seriously and as a consequence when you are instructing this firm in connection with any type of transaction you will be deemed to have consented to our providing any relevant information, where we deem it appropriate to any regulatory body, mortgage lender of the National Crime Agency (NCA).