Solicitors are subject to statutory‘Anti-Money Laundering’ (AML) obligations pursuant to the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 to 2018.
The term ‘Anti-Money Laundering’ (AML) describes a set of controls which require certain bodies such as Solicitors firms that might be targeted by money launderers to introduce measures to prevent money laundering and to report suspicious transactions. It is basically a set of legislative duties which prescribe the conduct of some professions in the provision of services so as to prevent the misuse of these services as money laundering vehicles.
Therefore as members of Law Society of Ireland before we can act for you, Mulroy and Company Personal Injury and Conveyancing Solicitors needs to confirm your identity.
The Obligation to Identify the Client
We are obliged to obtain identification from our clients and also to verify that identification with other documentation, such as a utility bill or bank statement. We copy and keep this documentation on file for a period of five years after the transaction has ended.
For Individuals we require:
- a scan/copy of your passport or driver’s licence
- a scan/copy of a recent (within the last 3 months) utility bill or bank statement setting out your usual address.
For Companies we require:
- A copy of the Certificate of Incorporation
- The Memorandum and Articles of Association
- A list of Directors, their addresses and dates of birth
You can view the Law Society leaflet which deals with client identity and anti-money laundering here.