Money Laundering Checks

Good Move are subject to the Money Laundering Regulations 2017. This means that we have to obtain and hold identification and proof of address for all clients. Additionally, we are also required to establish whether there are any beneficial owners on whose behalf the transaction or activity is taking place, hence, we would request you to identify anyone who you would consider to be a beneficial owner. Where appropriate, the source or destination of funds may also be requested. Without this information we will be unable to proceed with any work on your behalf.

Good Move has stringent internal controls and monitoring systems in place to satisfy themselves that their clients are not involved with criminal or fraudulent activity.

Identity Documents

Customer due diligence for Good Move involves establishing from the outset:

Good Move obtain this information by requesting clients provide certain documentation. We require sight of all original or certified documents and may arrange for a representative to meet you in person so that photographs / photocopies of documents can be carried out for our records. Once Good Move are in receipt of all necessary documents these will be analysed in more detail using fraud detection software (if required).

Below is a list of acceptable identity documents. Subject to your individual circumstances, Good Move may liaise with you for further/other documentation.

LIST A – IDENTITY DOCUMENT

LIST B – PROOF OF ADDRESS

Good Move also require vendors to be photographed and provide their signatures in the presence of our Representative. Clients / property owners are to advise us if they have changed their name in the last year to assist Good Move with their check for name changes.

Probate

If you are acting as a Representative of an Estate we require the following:

Limited company

If you are acting as a Representative of a UK Company we will also require the following:

If you are acting as a Representative of an Offshore Company we will also require the following:

Trust

If you are acting as a Representative of a Trust we require the following:

Further due diligence

If Good Move has any doubts at all about a client’s identity, we won’t continue to deal with you until we are completely satisfied of your identity and if the situation presents itself we will report the individual(s) to the appropriate regulatory authorities.

Good Move as regulated property buyers will apply further due diligence measures on their clients when:

Notice to property sellers

Good Move is regulated by the RICS (Royal Institution of Chartered Surveyors) and is a member of the NAPB (National Association of Property Buyers) and The Property Ombudsman. We are committed to preventing fraud in the property industry. The Quick House Sale industry unfortunately has become targeted by fraudulent sellers of late and it’s for this reason why Good Move are cautious and vigorous at the same time in establishing the identities of their clients.

Good Move is committed to combating Money Laundering and the prevention of fraud and identity theft. The main legislation governing money laundering is the Proceeds of Crime Act 2002, and abiding to this legislation, Good Move undertake physical and documentary checks to prove homeowners identity and proof of residence. The ultimate reason for doing this is to protect the Good Move brand, business and the general public.

If clients of Good Move decide not to choose a lawyer recommended by us, Good Move will subsequently then have to undertake due diligence checks on your legal representative. If Good Move suspect any sign of fraudulent activity there will be no hesitation to report the offence to our Money Laundering Regulatory Officer (MLRO) and in turn the National Crime Agency.

A warning to potential fraudsters

Good Move has a reputation for acquiring properties quickly and for this reason we can be targeted by fraudsters who attempt to carry out identity theft. Identity theft is generally where the property owner gives the impression that they are the property owners and then sell the property without the knowledge of the true owner.

Good Move continually train their employees on money laundering and counter fraud measures and have a good working relationship with the relevant authorities in this field. In addition to the documents we will obtain from clients, Good Move will also undertake further authentication checks in addition to the ones highlighted above.

Good Move has a relationship with the National Crime Agency and we regularly report our suspicions so that the business and the general public are protected at all times. We often report suspicions in confidence to the National Crime Agency and can still act to proceed with a potentially fraudulent purchase with a view to catching fraudsters with the appropriate authorities.

With a view to being transparent, all telephone calls are recorded for training and monitoring purposes.

We are regulated by...

  • NAPB
  • RICS
  • NAEA
  • The Property Ombudsman
  • Trading Standards

Good Move are proud to be the most regulated property buyer operating in the ‘Quick House Sale’ industry.