Anti Money Laundering Policy
The Proceeds of Crime Act 2002 requires Luxury House London to report any suspicion or knowledge of money laundering or terrorist financing to the Financial Conduct Authority.
We take comprehensive and exhaustive steps to verify the identity of our stakeholders and clients, and the source of all funds. We also declare our own identities and sources of funds in a similar fashion.
When you engage in a business relationship with Luxury House London, you can expect us to ask for two forms of identification:
A government issued photographic identification documents (e.g. passport or driving licence)
Proof of your forwarding address (e.g. bank statement or utility bill)
Additionally, we may consult the electoral register and credit reference agencies.
In certain situations, we are required to identify beneficiary owners - this may be because someone else is acting on behalf of another person in a particular transaction, or it may be because you need to establish the ownership structure of a company, partnership or trust.
Luxury House London regularly reviews and re-obtains information from stakeholders and clients, in order to amend our risk assessment of them should their or our circumstances change.
We are required to carry out ‘enhanced due diligence’ in some situations such as, but not limited to:
When a party is not physically present when we carry out identification checks;
When a party is identified as a politically exposed person or originates from a high risk third country;
And, any other situation in which we believe there is a higher risk of money laundering or terrorist financing.
Luxury House London recognises the importance of these regulations to negate money laundering and terrorist financing. We take our responsibility seriously and commit to transparency and training in this legislative area.
We keep a record of information only as legally required, and in accordance with our Privacy Policy.