Money Laundering

Money Laundering Regulations 2003

To meet the concerns of crime globally, terrorism and drug trafficking, the Money Laundering Regulations came into force in March 2004. 

In order to meet our obligations under the regulations, online estate agent mousesale is required to complete a number of procedures when beginning a relationship with a client or dealing with a transaction where a cash payment of more than 15,000 Euros (approximately £10,000) is involved (or less if money laundering is suspected).

One of the main requirements is to confirm the identity of our customers. This will include obtaining copies of a passport or new form of driving licence (with photograph) and a utility bill to confirm address 

We are also expected to identify the source of a customers money and the reason for the transaction. Cash buyers for instance will need to be qualified by asking for a bank statement or a letter from their solicitor/bank manager to confirm the funds are sufficient and legitimate.