Money Laundering and company formations | AccountingWEB

Money Laundering and company formations

There are plenty of online company formation agents out there and you can now form a company for less than £30. My understanding is that company formation agents are now covered by the Money Laundering Regulations and as such they should be verifying the identity of their customers. The ones that I am currently using have not changed their process during the last 2 years and do not appear to be taking any steps to verify either my identity (as the registered user) or the identity of my clients who are the beneficial owners of the new company.

Should I be worried by this apparent lack of compliance and be looking to use a more reputable agent? If so can anyone recommend one that does comply with the regulations and outline how they do this and what their charges are.

Many thanks

Simon Oates

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Anonymous |

I agree with Richard (up to a point)

davidwinch |
davidwinch's picture

MLR Compliance

quickform |
quickform's picture

I second that.

Dave Paveley |


Euan MacLennan |
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