Money Laundering Regulations

Money Laundering Regulations (MLR)

We are registered under the Money Laundering Regulations (MLR) which is governed by HMRC. We have a duty to comply with the money laundering regulations and implement additional diligence measures for high value transactions. All information stored for 5 years to comply with Money Laundering Regulations.

Transactions eligible for additional security checks

  1. Transactions over £1,000 GBP (one or combined transactions within 12 months)

We require a copy of valid photo ID to confirm identity, permanent residential address and DOB. Please note that accepted photo ID is classed as UK Photo ID Driving Licence, UK Passport or national ID card.

  1. Transactions over £5,000 GBP (one or combined transactions within 12 months)

In addition to the measures in point 1, we will also request information on the origin of the currency. The proof of address will need to be an original document or certified copy. The Photographic Identification will also need to be a certified copy.

  1. High Value Banknote Transactions

Exchange requests for any of the following (listed) notes will require copy of valid photo ID to confirm identity, permanent residential address, DOB and confirmation of the source of funds.

Banknotes:  €500 Euro, 1,000 Deutsche Marks, 1,000 Swiss Francs, 1,000 Singapore Dollars, 1,000 Brunei Dollars.

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