Not sure how to approach this issue and decline our services...
My firm is a fairly small practice - just me and couple employees.
We have been approached by a new client wishing us to set all up with the Companies House and HMRC. We have obtained the relevant identification documents followed by the Veriphy check. No red flags. All pass. We have applied to open a limited company on his behalf yesterday. The main activity of the company supposed to owner driver - nothing within regulated activities, very much within our perfect client base of £50K - £250K TO businesses.
I have now started our usual MLR process, risk assessment, due diligence, etc. I always do a google search on our clients as part of the assessment and to my shock this person featured in the many newspapers some time ago as a dangerous individual, mixed up in all kind of things... There was some action by NCA and confiscation under the proceeds of crime act.
Putting the fact that aside I would have to rate the risk as HIGH , I am very uncomfortable to represent anyone with a dubious past and I don't want get involved and the same goes for the people that work with me.
Could one of more articulated colleagues here, provide me with an idea or wording on how to politely decline this engagement, without upsetting the client and refer to the previous history of this person??? As the person is based some distance away, we don't have to do it face-to-face and I'm more than happy to return the initial fee that was paid for the incorporation and admin.
Thank you all in advance,
I'm posting this as anonymous user due to the sensitivity of this matter, I’m more or less a regular contributor on AW