Historically, when collating ID for money laundering checks, I have always obtained photo ID (being passport or photocard driving license) and proof of address (being a utility bill dated within the last three months).
I have recently been informed that this is not necessary and there is a simple check that can be performed on Experian that will satisfy the requirements of the Money Laundering Regulations.
Has anyone come across this before - it doesn't quite seem right to me as there is no physical verification that the person in front of you is who they say they are. I wonder if this approach pre-dates the 2007 regulations?
Any thoughts on this would be appreciated.
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