Estate Agency Customer Identification and Risk Assessment Form
This Estate Agency Customer Identification and Risk Assessment Form is for use by an Estate Agent when checking the identity of a new customer for Anti-Money Laundering purposes. This form can also be used to verify the other contracting party and/or any beneficial owners. A separate form should be completed for each individual.
This template should be read in conjunction with our Estate Agency Firm Wide Risk Assessment and Estate Agency Anti-Money Laundering Policy.
Estate agents are regulated by HM Revenue & Customers. A regulated business must comply with The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 as amended by The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 ('the Regulations'). Under the Regulations estate agents are required to identify and verify their customers, other parties to the transaction and beneficial owners.
The Form prompts the Agent to check the client’s documents to prove their name and address. A list of acceptable documents appears in the form. The Agent then assesses the level of risk and records this on the form.
This form is suitable for simple due diligence. Enhanced due diligence may need to be undertaken for high risk individuals and transactions.
Our anti-money laundering templates are an EXAMPLE ONLY and are intended to be a starting point for you to implement the requirements set out in the legislation and guidance. You must tailor the templates to suit your own business. These templates must be read alongside the relevant money laundering regulations and specific HM Revenue & Customs guidance.
If you are unsure how to edit or adapt these templates in accordance with the relevant legislation and guidance, professional advice should be sought.
HM Revenue & Customs has produced a useful guide for estate agents to ensure they are compliant with the Regulations. The guidance can be found here.
Failure to comply with the Regulations can result in civil penalties or criminal prosecution. Senior managers and nominated officers can also be found personally liable for a breach of the Regulations.
This Estate Agency Customer Identification and Risk Assessment Form is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.
Once you have purchased access to the appropriate document folder click on the “Download Document” link below. You will be asked what you want to do with the file. It is recommended that you save the document to a location of your choice prior to viewing.