Good Afternoon, We are looking for advice ideally on ensuring we comply with KYC for clients we onboard for PPI tax reclaims to our site, we are using AMLCC alongside Veriphy to soft credit search all clients whom sign up to our service. We ask clients to confirm the year of the claim, their details including NI number, earnings and also the amount they got back in PPI for the year before obtaining signatures for the form and terms and conditions. With that being said would the above be sufficient or is their a need to obtain Proof of ID at the time of onboarding? Any assistance on this would be greatly appreciated.
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Might be an answer in here:
https://www.gov.uk/government/publications/anti-money-laundering-guidanc...
Why are you asking for this information?
"and also the amount they got back in PPI for the year".
Given tax isn't deducted from PPI refunds and presumably isn't a factor HMRC would be interested in why do you need to obtain it from the client?
More in line with us then working out the interest part of the ppi refund which is where the tax was deducted from on the payout . Most clients are not aware of the tax deducted but can recall how much their ppi refund was
