The following Practice Compliance guidance note provides comprehensive and up to date legal information covering:
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 Zimbabwe.
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, as amended by the Money Laundering and Terrorist Financing (Amendment) Regulations 2019, SI 2019/1511 from 10 January 2020.
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. This Practice Note contains details several sources which may help you make that assessment in relation overseas companies.
Where the client is a legal person, trust, company, foundation or similar legal arrangement you must take reasonable measures to understand the ownership and control structure of that client.
Evidence of identity can be obtained in a number of
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