Are you who you say you are? Is that really your money?

Paul Martin • January 28, 2019

Sound like silly questions? Not any more! 

New anti-money laundering legislation is now in place and Chartered Accountants (along with lawyers, banks, real estate agents and other professionals) must meet stringent new rules to verify clients are who they say they are (including fellow company directors, trustees and beneficiaries who are not even our clients), as well as having to hold proof of source of funds for investments and more. 

This means we will be starting to request additional information from you, sometimes where it might not previously have been required. At a basic level, we not only need to hold copies of identification such as passports and drivers licences, we must physically sight such documents to comply.

There is too much detail to go into via a short article. This is just to let you know what the new legislation is about and why we might ask for further information when completing future transactions. 

For any questions on this new legslation, please contact us and we will happy to discuss it with you.

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