Anti-money laundering statement

Geldarts Ltd is completing registration for anti-money-laundering supervision and will not take on clients until that supervision is in place. The supervisory body and registration number will be published here once confirmed.

Why we do checks

Bookkeepers and accountants are “relevant persons” under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. The law requires us to verify who our clients are, understand what their business does and where its money comes from, monitor the relationship, keep records, and report suspicions. These duties apply to every client without exception and cannot be waived.

What we will ask for

• Individuals and sole traders: photographic identification (passport or driving licence) and proof of address dated within three months.
• Companies and partnerships: the above for each director or partner and for every person owning or controlling more than 25%, plus company registration details and confirmation of the people with significant control.
• All clients: a short description of the business, its customers and typical transactions, and the source of funds where a transaction is unusual for the business.

We may verify identity electronically. This leaves a “soft” search footprint that is visible only to you and does not affect your credit score. We may also screen against sanctions, politically-exposed-person and adverse-media lists.

Ongoing monitoring

We review client information periodically and when circumstances change, and we look at transactions as part of ordinary bookkeeping. Where something is inconsistent with what we know about your business, we will ask you about it; that is routine and not an accusation.

Reporting

If we know or suspect that funds are the proceeds of crime or connected with terrorist financing, we must report to the National Crime Agency. We may not tell you that a report has been made, and we may have to pause work while consent is sought. Making a report in good faith cannot give rise to a claim against us.

Records

Identity and due-diligence records are kept securely for five years after the end of our relationship with you, then deleted, as the Regulations require.

Our internal controls

The firm maintains a written firm-wide risk assessment, policies and procedures, staff training records and a nominated officer responsible for reporting. These are available to our supervisor on inspection.

These checks protect honest businesses, including yours. Most take less than ten minutes.