Anti-Money Laundering Policy

EMD Law is committed to being fully compliant with the provisions of the Money Laundering Regulations 2017, the Proceeds of Crime Act 2002 and anti-terrorism laws.

To ensure compliance with the law and to ensure we know and fully understand the identity and structures of our clients we have anti-money laundering policies and procedures in place.

Client and Matter Due Diligence

We conduct due diligence enquiries on all new clients to establish and verify their identity and the identity of any beneficial owners. We also undertake enquiries of anyone paying money to us on behalf of a client. We may not be able to act if we are not provided with sufficient information.

We use third party providers to verify identity who search external electronic databases as part of this diligence process.

We also undertake risk assessments for all new matters and for existing clients.

On-going Monitoring

We undertake on-going monitoring of all existing clients (which may require you to provide us with updated proof of identity documentation).

Source of Wealth and Funds

We are required to know the source of funds involved in the transactions we undertake. We are also obliged to enquire about the source of your wealth. We accept no responsibility for any transactions being delayed while this information is awaited.

Tipping off

We must report to the National Crime Agency and other relevant authorities any suspicion or knowledge regarding money laundering or the proceeds of crime. We are not permitted to notify you of the fact that such reports have been made.

Confidentiality

Our duties to report to the National Crime Agency may take priority over any duty to keep your information and the detail of your transactions confidential.

We also undertake enquiries of anyone instructing us on behalf

Should this not say anyone making payments on behalf of rather than instructing on behalf - if we have an authpriry to accept instructions I don't do an ID check, but do if they are paying us money