Anti-Money Laundering and Countering Financing of Terrorism Act 2009 - We might have to ask for more information 

The Anti-Money Laundering and Countering Financing of Terriorism Act 2009 (AML/CFT) is designed to help detect and deter money laundering and the financing of terrorism.  New requirements under the Act that apply to accountants will kick in on 1 October 2018.  

Accountants will need to implement internal controls, polices and procedures to identify and assess risk, know their clients and report suspicious activities.   

What this means for you is that we may require more information and proof of identify (such as passport or driver's licence) if we are undertaking certain activities on your behalf, such as setting up a new company.  

Lawyers are already having to comply with the new requirements and Estate Agents will have to comply from 1 January 2019.