CDD resources for overseas companies
CDD resources for overseas companies

The following Practice Compliance guidance note provides comprehensive and up to date legal information covering:

  • CDD resources for overseas companies
  • CDD documentary requirements
  • Important reminder—high-risk third countries
  • Overseas resources

Forthcoming changes: The UK has voted to leave the EU and this will take place on exit day as defined in section 20 of the European Union (Withdrawal) Act 2018. This has implications for law firms. This Practice Note is likely to be affected. It will be updated as and when relevant implementing legislation is published. For more on Brexit, see Practice Notes: Brexit—anti-money laundering and counter-terrorist financing—law firms and Preparing for Brexit—key considerations and action planning—law firms.

This Practice Note is a one-stop shop overseas customer/client due diligence (CDD) resource that saves time and effort by taking you straight to the company registry for any particular country. It sets out a hyperlinked list of CDD resources by country in alphabetical order, from Afghanistan to Zimbawe.

CDD is a central pillar of the anti-money laundering (AML) and counter-terrorist financing (CTF) regime. CDD requirements underpin the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692, which came into force on 26 June 2017.

For more information on the MLR 2017 CDD requirements and when they apply, see Practice Notes: Money Laundering Regulations 2017—customer due diligence, and for law firms Money Laundering Regulations 2017—client due diligence.

Remember that it is for you to assess and decide what evidence is appropriate to verify the identity of your customer/clients.