Forum

• # 72100
• Mon 13 Jun 2011 07:48 AM

Good Morning.

I have a Money Laundering query......sigh......

If, as many people do now days, you wanted to run your bookkeeping practice entirely online, with no physical client contact, allowing you to gain clients from all over the country....how do you comply with the Money Laundering Regulations? Are the following options acceptable:

1. Ask your new client to post thier passport to you so that you can copy it and post it back (most likely to scare off potential clients).
2. Have them to copy/scan it and then email the copy to you.
3. Ask them for permission to contact their accountant or solictor and ask for them to send copies of the verification documentation they hold with a legal blurb about it being a true likeness of the individual.
4. Any other option available?

Obviously at the moment I'm in the process of completing my exams and looking to set up on my own, so this is all forward thinking, but its obviously a subject that could seriously hinder the whole 'purely online' business aspect.

Many thanks. 

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• # 72143
• Tue 14 Jun 2011 12:03 AM

Hi Vantage

There is always one lol

I am not sure how you can easily complie with the MLR regs the biggest reason for getting any kind of photo ID is to verify the person infront of you. If they are sending passports via post then they may not be sufficient as how do yuou know they have not sent in a stolen passport.

This is an interesting one mate I will look forward to the ICB's take on it one for James, Ami and co me thinks.

Best regards
Stuart

• Forum Moderator, South East & Greater London Regional Chairman
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• # 72175
• Tue 14 Jun 2011 01:41 PM

I'm sure I read somewhere that you can rely on the due diligence of others who are registered.... Hopefully ICB will spot this and add some clarification. After all, there are plenty of online bookkeepers/accountants....someone must have the answer

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• # 72183
• Tue 14 Jun 2011 05:50 PM

I had to do this for my solictor  (another part of the country too far to pop in) so I took my driving licence to a local solicitor and they photocopied stamped it and signed it and I sent it to my solicitor.  Solicitor's charge a £5 fee for doing this.
Surely this would be acceptable

Ange

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• # 72184
• Tue 14 Jun 2011 06:29 PM

MrsS said:

“I had to do this for my solictor  (another part of the country too far to pop in) so I took my driving licence to a local solicitor and they photocopied stamped it and signed it and I sent it to my solicitor.  Solicitor's charge a £5 fee for doing this.
Surely this would be acceptable

Ange”

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• # 72347
• Mon 20 Jun 2011 08:37 AM

Yes, I'm interested on this topic too. 
How do you comply with the MLR if you don't have the oportunity to meet your clients?

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