Proceeds of Crime Act 2002
We are required to verify the source of all funds coming from you (in excess of 15000euros) by seeing the source and tracking the history of the money for not less than six months right up until transmission to us (the funds must come from the source, that is the account which you have evidenced). This can usually be provided by producing six months bank statements showing the funds you are utilizing and the name and address of the account holder.
If funds are from a third party then identity checks also apply to the third party, however scanned copies will be acceptable for the third party only.
We are professionally and legally obliged to keep your affairs confidential. However, solicitors may be required by statute to make a disclosure to the Serious Organised Crime Agency where they know or suspect that a transaction may involve money laundering or terrorist financing. If we make a disclosure in relation to your matter, we will not be able to tell you that a disclosure has been made. We may have to stop working on your matter for a period of time and may not be able to tell you why.
Solicitors in Braintree, Witham, Maldon, Colchester, Wickford, Burnham-on-Crouch and Chelmsford
