Under the provisions of the money laundering regulations we, as an agency, have to keep and maintain due diligence on all our customers.
If you are an accountancy or legal practice who are already regulated under the money laundering regulations, we are able to use your due diligence as a third party and therefore we would not be required to perform any due diligence checks on your clients.
If you are not regulated, we will need to perform anti-money laundering checks on the beneficial owner(s) for the company being incorporated using our third party software ‘SmartSearch’.
The check does leave a footprint on an individual’s credit file. This is because for audit purposes Experian are required to record the check has taken place. However, this footprint is not the same as a credit check footprint and has no negative impact on their file. It is just shown as an ‘identity search’ which is effectively a light footprint, simply showing an AML search has taken place. An individual can have many identity footprints and it still won’t affect their credit file.
We apologise for any inconvenience but I am sure you will understand that it is important that we comply with this current legislation. If you have any queries, please do not hesitate to contact us.