Companies House is now usually taking around 8 working hours to form a company. If you need your company quicker than this and it's before 3pm, there is a  "guaranteed same day" option available.

Money Laundering ID ChecksAnti Money Laundering

Services involving large amounts of money, financial services such as accountants, business services such as mail forwarding and registered office services, estate agents and others need to comply with the Money Laundering Regulations.

What is money laundering?

Money Laundering is a term used to describe the act of hiding money obtained using illegal methods ie: Theft, Extortion, Drugs Trafficking etc and converting it into money that appears to have originated from a legitimate source. In doing this, the criminals hide any links or traces to any criminal/illegal activity.

Criminals need to discover ways of reducing the traceability of what can be described as 'Dirty' money. The UK's financial system is the perfect place to do this. Banks and financial institutions are used by criminals to try and 'lose' the paper trail. As most of the transactions are completed in cash, criminals have to find ways of turning 'Dirty' money into 'Clean' money

What do I need to do?

If you are under the money laundering regulations then you need to carry out checks to make sure you know who you are dealing with as a customer.  Just because they say their name is Fred Smith and they live in Acacia Avenue, they might not be telling the truth and you may have provided a service to someone without realising who they really are.

Online Identity Checking

As more services go online, many service providers use electronic identity checks. If for example your name is listed at your address on the electoral register or the details that financial institutions share between themselves report that you've had a bank account at the same address for 20 years then this allows checks to be carried out electronically without the customer having to provide paper based documentation. 

We've teamed up with Veriphy - a leading verification provider to provide electronic ID checking services from just £3.99+VAT.   There are no minimum usage requirements - just pay as you go. If you only need to check people in January before carrying out their tax return and you only do three or four transactions per year then thats fine.  Contact us for more details