Since July 2018 we have been completing Customer Due Diligence on our clients to meet our Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) obligations. Most of you are now familiar with the need to provide us with identification and proof of address when engaging with us, to enable us to meet these obligations. What you may not be aware of is why we need to understand and document information about you, as our client. The AML/CFT regulations require us to understand things such as where you derive your income from and why you are completing the transaction you have asked us to complete on your behalf. We do this so we can assess the risk of money laundering and to demonstrate we know you as our client. In some situations, for example if we are acting for your trust, we will ask you to verify your income or where the funds have come from to complete the transaction.

Asking these questions not only ensures we understand you and what you want to achieve, it also ensures we meet our regulatory obligations. Our privacy and confidentiality obligations to you, as our client, are not compromised by gathering this information. For more information, refer to our Anti-Money Laundering Policy on our website.