In order to protect the general public from fraudulent activity the government has put in place the Money Laundering Regulations 2007.  These regulations build on those already in place, looking to simplify the process as much as possible whilst still identifying potentially fraudulent activities.  Under these regulations all company formation agents must undertake customer due diligence which involves the company checking the identity information provided by potential clients.  This helps to prevent fraud by identifying individuals who may potentially being using an alias or fabricated details.

When forming a new limited company you should expect the company formation agent you use to undertake these checks.  This way you know that the formation agent you are dealing with complies with the relevant Money Laundering laws.

Wisteria Formations Money Laundering Checks

When you have finished the Wisteria Formations online application process you will be asked to provide some basic identification documents confirming your address and identity.   All directors and shareholders with a holding of more than 20% will be asked to provide this identification in order to comply with the Money Laundering Regulations 2007.  Normally this is straightforward and only requires you to provide a copy of your passport and a recent utility bill or bank statement confirming the details you have provided

If you have any questions in relation to Money Laundering Regulations, please call our customer support team on 0844 893 0808.