Money Laundering Regulations
Purchasers attending the auction must fulfil these requirements.
You can also download this document (pdf)
As many people maybe aware the Anti-Money laundering regulations came into effect on 1st March
2004 and as property auctions fall within a ‘relevant business’ it is a requirement upon this company to follow certain procedures within this legislation.
For these reasons it is a requirement for purchasers attending the auction and transacting business with ourselves to provide relevant documentation in order to fulfil these requirements. Customers should be aware that this documentation is required for these purposes only and all data protection regulations will be adhered to.
If you have any queries relating to these regulations and requirements you should contact us PRIOR TO BIDDING AT AUCTION.
For this purpose Ms Kimberley Heath may be contacted on 0151 641 8608 or emailed at firstname.lastname@example.org
There are some circumstances where we are not required to verify evidence of persons transacting business and in short these are:
- You are authorised by the Financial Services Authority (FSA) to carry on financial services or banking activity.
- You are covered by European Money Laundering Directive (e.g. If you are a bank established in the European Union or a listed PLC on the London Stock Exchange or other recognised UK investment exchange or as a subsidiary of such listed PLC.
- Where you are a regulated buyer, an overseas regulatory authority and based in a Non-European economic area, State with laws comparable to the provisions of the European Money Laundering Directive (i.e. A bank established in the USA)
- Where you are acting on behalf of one of the other with a certified original copy letter as above.
In these circumstances, proof will be required
In the case of any doubt you should contact us PRIOR TO ATTENDING THE AUCTION.
If you are attending the Auction on behalf of a purchaser you must be able to provide certified copies (i.e. Copies of original documentation signed as true certified copies by a solicitor of both the Purchasers identification and that of your identification). Such certified copies of identity documents can be provided by a UK lawyer, a UK Banker, an authorised financial intermediary, such as an independent financial adviser, an NCCB Regulated Mortgage Broker, a certified Accountant, a Teacher, a Doctor, a Minister of Religion or a port master or sub-post master.
All of the above must be capable of being contacted by phone prior to or on the day of the auction.
If you are bidding at the Auction, we must be able to verify your identity. The following schedule of acceptable documentation shows the documentation that you must have available at the auction or when signing contracts (prior to auction) in order for us to conduct business with you.
In general we will require two forms of identification.You must allow us to photocopy this documentation for storage and file for 5 years. In respect to UK individuals we are required to verify your names and residential address and require two documents
ONE DOCUMENT FROM EACH LIST (A & B).
- Current Signed Passport
- Current UK Photocard Driving Licence
- Current Full UK Driving License (old version)
- Residential permit issued from the home office to EU nationals.
- Benefit Book or original Notification letter from the benefits agency.
- Self employed in the construction industry (Tax exemption cert. With photograph of holder) Form C155, C156 or SC60
- Inland Revenue Tax Notification
- Fire Arms Certificate
- Utility Bill issued within the last three months (not mobile phone)
- Local authority Tax Bill (Valid for the current year)
- Bank, Building Society of Credit Union Statement (Must contain current address)
- The most recent original Mortgage Statement
- Confirmation from the electoral roll
For UK Trusts, UK Corporate and Partnerships, Occupational Pension Schemes, Registered charities in England and Wales,
Local Authority or non UK individuals you should contact Kimberley Heath on 0151 641 8608 or email at email@example.com prior to bidding at the auction to confirm documentation required. documentation required by bidders