No one can deny that the aim of countering money laundering is a laudable one, but the compliance regime now in place is causing difficulties. Our advice is to be prepared to have to provide identification and proof of address and to be aware that some transactions may take extra time if any of the organisations involved decide that they require clearance from the NCIS. If you are concerned about your firm’s compliance with counter money laundering legislation, we will be happy to advise you.
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.