{"id":781,"date":"2011-11-17T13:11:37","date_gmt":"2011-11-17T13:11:37","guid":{"rendered":"http:\/\/www.holdingpage.co\/?page_id=781"},"modified":"2011-11-17T13:11:40","modified_gmt":"2011-11-17T13:11:40","slug":"identification-and-kyc","status":"publish","type":"page","link":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/ml-compliancy-training\/identification-and-kyc","title":{"rendered":"Identification and KYC"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.holdingpage.co\/index.php\/compliancy-training\/client-due-diligence-measures\/attachment\/9\" rel=\"attachment wp-att-772\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-772\" title=\"9\" src=\"http:\/\/www.holdingpage.co\/wp-content\/uploads\/2011\/11\/9.jpeg\" alt=\"\" width=\"253\" height=\"190\" srcset=\"https:\/\/www.moneylaunderingcompliance.com\/wp-content\/uploads\/2011\/11\/9.jpeg 253w, https:\/\/www.moneylaunderingcompliance.com\/wp-content\/uploads\/2011\/11\/9-200x150.jpg 200w\" sizes=\"auto, (max-width: 253px) 100vw, 253px\" \/><\/a>For most businesses the basic information of just the name and address is usually enough especially when dealing with the normal type transactions. There are times we may need to gather more information on the client in line with the JMLSG definition of identity above. For example:<\/p>\n<ul>\n<li>Date of Birth \u2013 Required for items such as payroll.<\/li>\n<li>UTR \u2013 The Unique Tax Reference number from the Revenue (if issued)<\/li>\n<li>NI Number \u2013 The unique National Insurance Number, this is the secondary tax reference number and will be declared on P60.<\/li>\n<li>Place of Birth \u2013 Important in establishing residence and domiciliation\/Marital status<\/li>\n<li>Family history \u2013 Important information<\/li>\n<li>Business Details \u2013 Are transactions in line with the business profile?<\/li>\n<li>Investments\/savings \u2013 Any unearned income? Any rental income?<\/li>\n<li>HMRC registration or other government department. contact<\/li>\n<li>How did you hear about us? \u2013 Connections with existing clients<\/li>\n<\/ul>\n<p>Your firm will have a system such as a \u2018permanent file data sheet\u2019 as part of the client files, it is normal working practice, this is where information such as the above is recorded and updated on a regular basis. Those of who strive towards a \u2018paper less office\u2019 will have a \u2018practice management\u2019 programme which will allow them to set up a set of \u2018parameters and recording\u2019 functions for each client. Whether on paper or electronically, this is part of the record keeping requirement for KYC as one of the firms\u2019 requirements under the ML regulations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; For most businesses the basic information of just the name and address is usually enough especially when dealing with the normal type transactions. There are times we may need to gather more information on the client in line with the JMLSG definition of identity above. For example: Date of Birth \u2013 Required for items [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":612,"menu_order":46,"comment_status":"open","ping_status":"open","template":"training-page.php","meta":{"footnotes":""},"class_list":["post-781","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/pages\/781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/comments?post=781"}],"version-history":[{"count":2,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/pages\/781\/revisions"}],"predecessor-version":[{"id":783,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/pages\/781\/revisions\/783"}],"up":[{"embeddable":true,"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/pages\/612"}],"wp:attachment":[{"href":"https:\/\/www.moneylaunderingcompliance.com\/index.php\/wp-json\/wp\/v2\/media?parent=781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}