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Guide to Anti Money Laundering requirements for non UK residents

25th February 2015

If your client is a foreign national who holds UK ID and has a registered UK address you can carry out normal checks be those electronic or paper based.

However the guidance provided if your client is a non UK resident is as follows:

You should obtain the same types of identity documents for non UK residents as for UK residents.

If you have concerns that an identity document might not be genuine, you can run them through our foreign national ID check and we will verify them for you.

You can get the customer’s address from:

  • an official overseas source, such as an electoral register
  • a recognised, well established directory
  • a person regulated for money laundering purposes in the country where the person is resident, who confirms that they know the individual and confirms that the individual lives or works at the overseas address given

Where appropriate you can also accept written assurances from reputable persons or organisations that have dealt with the customer for some time. If documents are in a foreign language, you must satisfy yourself that they do in fact provide evidence of the customer’s identity. This again can be achieved via our foreign national ID document checks.

Understanding the requirements is one thing but having a consistent approach and process for due diligence is another and clearly important. ETSOS can help, as well as our guides, we have developed ‘Compliance in a Box’, a simple to use and cost effective platform that allows you to carry out consistent due diligence for both Anti Money Laundering and Consumer Protection Regulations in seconds.  As part of this we offer a foreign national check where we verify the validity of any ID documents supplied to you by non UK clients.

Register for more information on our online AML checks

 

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