What do you use to carry out ID checks on new engagements with companies?
For individuals I would usually take a copy of their passport or driver's license but not sure if this is sufficient for directors of LTDs along with the incorporation certficiate from Companies House?
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I'd search Companies House for free.
If you don't do that, who's to say that the blokes saying that they're directors are actually the directors ?
100% this is what I would do anyway, but I'm wondering if that ID approach is sufficient? Simply take the incorporation cert from CH and then ask for all of the directors' personal ID?
What else do you suggest ?
Suppose you could do one of these electronic verifications.
Beyond the ID of the directors, not much else needs checking. You can see the company is real at Companies House, and that the directors' names, service address, and registered office match the ID docs, so that's all you need.
What about shareholders / members / ultimate beneficial owners who own or control > 25%?Beyond the ID of the directors, not much else needs checking.
There's only so much you can check.
It's a big assumption that Companies House records are correct from what I've seen.
I use a company called Credas to verify passports, right to work and also Anti-Money Laundering AML checks. It is all done via an App on mobile phones and gives a clear exportable report and costs a couple of pounds per check - you could charge it on! I have no affiliation to them but have found their system quite intuitive and easy to use and gives a basic audit trail in case it is ever needed in the future. Not sure I would like to just rely on a company search! If I am ever asked why I didn't spot a passport or other document was a fake at least I can prove that I have conducted myself professionally with a degree of due diligence:
It would be a good idea to look at Reg 28 of the MLR 2017
http://www.legislation.gov.uk/uksi/2017/692/regulation/28/made
It is specific and detailed about what info is required.
David