Anti-Money Laundering Compliance Information and Document List

What is Money Laundering?

Money laundering is the process of cleaning or “laundering” illegally obtained funds to remove traces of criminal activity so that the proceeds of crime appear as if they were obtained legally from a legitimate source. Like all estate agents in the United Kingdom, Lavelle Estates is subject to Anti-Money Laundering and Terrorist Financing Regulations.

Anti-Money Laundering Compliance

Lavelle Estates is committed to performing customer due diligence and reporting suspicious activities in accordance with the UK Anti Money Laundering and Terrorist Financing Regulations. To comply with these regulations, we will need to collect and retain identification and proof of address from both sellers and buyers. This includes identifying all beneficial owners, especially if the transaction is being carried out on their behalf. Additionally, we would need to obtain proof of ownership of the property and verify the source of funds. For this reason, we may need to disclose your information to third party service providers such as, credit reference agencies and the Land Registry to carry out these checks. We are also required by law to disclose all information to authorities, without prior notification or liability to you, if we have reasonable suspicion that you are involved in money laundering or terrorist financing.

By instructing Lavelle Estates or having your offer to buy accepted, you acknowledge and give consent for these checks to be carried out, which includes obtaining, copying, and verifying acceptable identification documents. We will not proceed with any transaction if, we are unable to verify either party’s identity, or become aware of any suspicious activities. We therefore request that you provide accurate and up to date information and to notify us of any changes immediately.

The processing of personal data is in line with the Data Protection Act 2018 and the UK General Data Protection Regulation (GDPR), and it is lawful and necessary for the prevention of money laundering or terrorist financing and for the performance of a task carried out in the public interest. Any information you provide will be governed by our Privacy Policy. Please visit our Privacy Policy for more information on how and why your personal data is processed.

Acceptable Identification Document

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 requires appropriate identity (ID) evidence to be provided when certain transactions take place.

If there is more than one beneficial owner, we must verify the identity of each owner. Where we are meeting face-to-face, all individuals involved will need to bring original ID documents for us to verify and copy for our records. Where we are unable to meet face-to-face, we may need to ask for additional documents, or we may accept certified copies of the required ID document only if it has been certified by a suitably qualified person such as a Solicitor or a Bank Manager. The individual certifying the copy of the ID document must confirm that they have seen the originals and must sign, date, and print their name, profession, address, and telephone number on the documents to be checked by reference to a professional directory.

Please see below for a list of ID evidence required in each case.

Proof of identity checklist for individuals:

The following information is required for individuals:

• Full name
• Date of birth
• Current permanent address (including postcode)

At least one document from each of the following lists:

You may not use the same ID to verify both name and address. You must provide two separate documents from the list below.

List A (Proof of name and date of birth)

1. Valid signed passport
2. Valid UK photocard driving licence
3. EEA member state identity card

List B (Proof of Address)

1. Utility bill (gas, electricity, satellite television, landline phone bill) issued within the last three months
2. Local authority council tax bill for the current council tax year
3. Valid UK driving licence (only if not used for proof of name and date of birth)
4. Bank, Building Society or Credit Union statement dated within the last three months
5. HMRC self-assessment letters or tax demand dated within the current financial year

Proof of identity checklist for companies and other legal structures:

Individual identity evidence from list A and B is required for:

1. All individuals dealing with the transaction, including representatives of a company, charity, trust, or an estate; and
2. All other individual or entities with 25% or more of the shares or voting rights in the company

Requests for identification may vary case by case subject to the structure of the legal entity. In the event we require more identification, we will contact you.

Companies: If you’re a representative of a UK company, we require the following:

• Name of the company
• Registered address of the company
• Trading address of the company
• Nature of the company’s business
• Certificate of Incorporation
• Incorporation forms confirming structure and identity of beneficial owner(s)
• List of all directors
• Latest Annual Return or Confirmation of Statement
• If a subsidiary, the name of the holding company

Trust: If you’re a representative of a Trust, we require the following:

• Trust deed
• List of trustees
• List of beneficiaries

Estate: If you’re a representative of an Estate, we required the following:

• Grant of Probate (if a will was left)
• Letter of administration (if no will was left)
• Signed copy of the last will
• Proof of power of attorney

Unacceptable ID or Documents:

We are unable to accept the following documents:

• Credit card statements
• Mobile phone bill
• Insurance documents
• Provisional driving license