Money Laundering Regulations

The Money Laundering Regulations 2007 obligates estate agents to implement procedures to prevent money laundering, by confirming the identity and / or identities of all vendors / sellers, landlords and buyers of property.

This means we are legally obliged, under the Money Laundering Regulations, to have a signed copy of Terms and Conditions on file, be it for the Sale, Letting or Acquisition of a property on behalf of the client and / or clients, together with proof of address (official utility bill or official bank statement) and ID (passport or drivers License) and proof of ownership (official freehold or leasehold document) for vendors / sellers and landlords.

Meaning of customer due diligence measures

Regulation 5 : "Customer due diligence measures” means—

  1. identifying the customer and verifying the customer’s identity on the basis of documents, data or information obtained from a reliable and independent source;
  2. identifying, where there is a beneficial owner who is not the customer, the beneficial owner and taking adequate measures, on a risk-sensitive basis, to verify his identity so that the relevant person is satisfied that he knows who the beneficial owner is, including, in the case of a legal person, trust or similar legal arrangement, measures to understand the ownership and control structure of the person, trust or arrangement; and
  3. obtaining information on the purpose and intended nature of the business relationship.

Source: http://www.legislation.gov.uk/uksi/2007/2157/regulation/5/made

Money Laundering Regulations – Our Responsibilities:

https://www.gov.uk/money-laundering-regulations-your-responsibilities

Stonelink International (London) Limited | Money Laundering Regulation Registration Number: 12746893

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By taking a personalised approach to each one of our customer's property requests,

Stonelink International has become London's "boutique" real estate broker of choice.

 

From our carefully curated collection of off-market properties and exclusive sales, through to securing the right tenant and maintenance team for your property, you receive a level of attention and service, that while may be uncommon in the industry,
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