MLR: Simple way for clients to provide certified copies

MLR: Simple way for clients to provide...

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http://www.postoffice.co.uk/counter-services/passport-identity/identity-checking-service

The ICAEW guidance seems to give us some discretion as to who to allow to certify; Although there is a recommended list (Bank/qualified accountant or solicitor), I can't think of any reason why the Post Office service would not be appropriate? What do others think?

Replies (15)

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By essex accountant
21st May 2012 13:01

should be ok with ICAEW

I am based in Essex and I am using a solicitor in Hampshire for a re-mortgage. she has asked me to use the Post Office for the ID check. If it is good enough for the Law Society then I am sure it should be good enough for the ICAEW

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Replying to Lloyd Ellis:
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By stt
21st May 2012 13:20

Thanks, thats what I think too.

I'm not keen on online checks (although they do seem very convenient) as you still need to prove the person who is becoming your client is the same person who you have done the online check for (I believe David Winch has suggested in the past sending an engagement letter or something else to them in the post - at least, if you get a response, that proves the person has access to the relevant address).

Also, I understand online checks leave a footprint on the credit history, and the full practical ramifications of that are unknown (to me at least!).

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By WhichTyler
21st May 2012 13:43

Just to be clear

All the PO is doing is making a copy of the documents supplied so that the client can then send them to you with out having to turn up in person. They aren't verifying their identity.

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Replying to Accountant A:
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By stt
21st May 2012 13:52

Check the link - its a service where they certify the copies as a true likeness

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David Winch
By David Winch
21st May 2012 13:44

What's not to like

I don't see any problem with using this method to authenticate photocopies.

David

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Replying to mr. mischief:
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By stt
21st May 2012 13:53

Thanks David, now I feel reassured!

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By Hansa
21st May 2012 15:27

Thank you

I'm so glad the OP asked this question, I hadn't realised the Post Office offered this service and it will be most useful for clients.

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By pauljohnston
23rd May 2012 10:48

Thank you No.2

I would also like to thank the OP.  Presumely it is for a fee.

David - do I understand that meeting the prospect is not felt important and that proof of address (returned Engagement Letter) authenticated bill and passport copy is aceptable.

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By DarrenHickman
23rd May 2012 11:24

Interesting

I can see this as an interesting alternative and the Post Office do offer a document checking process for passports so why not for other things.  I feel this is likely to be a personal preference as to whether your are comfortable relying on a Post Office member of staff.  Is their an audit trail and do you have any comeback?

A point I would make though is electronic ID comes in cheaper than this, verifies the identity and if the client is willing to pay the Post Office surely they would be willing to pay you a smaller amount that comes with the convenience of not having to go to the Post Office.

Just to clarify electronic ID checks only leave a soft foot print so no impact on the client.

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Replying to johngroganjga:
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By stt
23rd May 2012 12:55

What does soft footprint actually mean? Does it mean some record is updated showing dates the record was accessed? Or something else?

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David Winch
By David Winch
23rd May 2012 11:46

Meeting a prospect

In terms of satisfying the requirement for an initial ID check under Money Laundering Regulations 2007, it is not necessary to meet the client and it is not necessary to see photographic ID.

But if you do not meet the client then Reg 14(2) kicks in and requires enhanced due diligence.

Have a look at the relevant ICAEW guidance on this topic.

pauljohnston wrote:

proof of address (returned Engagement Letter) authenticated bill and passport copy is acceptable.

Yes.

David

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Replying to SteveHa:
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By DarrenHickman
24th May 2012 11:42

Meeting Reg 14(2)

We've found companies going down the non face to face route use the on line ID to satisfy 14(2)(a) and then follow that up by meeting 14(2)(c).  There are tools out there that can validate a persons name and address to their bank account details, which enables verification from two angles.

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By pauljohnston
23rd May 2012 12:28

David Winch

Thank you (again) for your expert guidance on this subject.  For the first time I feel comfortable with what we do for initial MLR dillegence

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By wingco44
23rd May 2012 14:37

Members of Parliament confirming ID

Why is it you can have an MP confirm your passport details but they are 4 times more likely to be a criminal than an accountant?

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By DarrenHickman
24th May 2012 11:35

Soft footprint

A soft footprint mean that if the client has a look at their credit report there will be a note that an identity verification check has been carried out and by which company.  This is so people can find out who is doing checks on them, but this information is not used as part of a credit check so it won't have an adverse impact.

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