Conveyancing and passing AML regulations using the Checkboard app

Conveyancing and passing AML regulations using the Checkboard app

 

HOW TO PASS THE GOVERNMENT’S ANTI MONEY LAUNDERING (AML) LAWS

The law was introduced to help stop criminal gangs using the purchase of property to commit identity theft as well as steal and launder money.

Companies must ensure that their clients are in compliance with Anti Money Laundering (AML) laws or face up to 14 years of imprisonment and a hefty £10,000 fine. To avoid this, many firms don’t begin working until the client successfully passes these regulations.

 

Through Checkboard, you can experience the following advantages;

1. You now have the luxury of an extra five working days to successfully pass, instead of just one.

2. Reduced risk of fraudulent attacks

3. Minimizing the risk of identity theft.

 

What makes us prioritize collaboration with clients using Checkboard?

To protect you and your money from criminal activity associated with property transactions, we are now only working with clients who use the government-backed open bank technology provided by Checkboard app.

Unlike other lawyers, Checkboard offers an unparalleled level of security that won’t leave your passport, driver’s license, and other important documents vulnerable to criminal gangs’ fraudulent activities. Submitting these items through email or post could be risky as they can be forged in mere minutes!

 

For your protection and reassurance.

Note 1. If you don’t use Checkboard, AVRillo won’t be able to operate; without it, you miss out on the security of Open banking technology and True Layer data as well as FCA (Financial Conduct Authority) regulation. Taking advantage of Checkboard brings with it a wealth of stringent rules and high standards that guarantee your data is safe from harm.

Note 2. To delve into Open banking data security, take a look at the information provided by https://www.openbanking.org.uk/about-us/

Note 3. You can read about True Layer data security also used byb/check board: https://truelayer.com/

 

NEXT STEPS & FAQ

 

Spend just 5-10 minutes to experience the remarkable convenience of Checkboard!

It only takes 5-10 minutes for you to complete the Checkboard steps. After receiving your report, our AML Anti Laundering Compliance team will take around five business days to evaluate if your Checkboard information meets government policies.

The lawyers who still use paper documents can take months to process their cases, which not only delays your situation but also increases the probability of a loss in the tens of thousands. We do not want to represent you if this is something that you are willing to risk – we would much prefer reducing our clients’ exposure to these risks. Hopefully, now it makes sense why we’re taking this approach with paper documentation.

 

STEPS & CONDITIONS TO USE CHECKBOARD?

Step 1. For security reasons, I must abide by the instructions set out in the form and only use the mobile number indicated there. No other phone numbers will be accepted.

Step 2. In order to be eligible, one must reside in the United Kingdom and have a UK bank account.

Step 3. I will tap on the Checkboard link to get their app both from Google Play Store or Apple Store. If I am buying and selling, I shall press on two different Checkboard links: one for the sale text coming my way; while the other is for purchase text sent by them.

Step 4. I will prove my ID and address by using the app to:

4.1) take a selfie,

4.2) a video of myself,

4.3) upload

(i) my bank statement from where my money in and out for my transaction will be transferred;

(ii) my passport (signature & photo page),

(iii) my driving licence (only if I have one).

Step 5. Are you ready to purchase? Click the link to ensure that your bank is included in the 78 banks supported by Open Banking, a government-backed technology seamlessly integrated with Checkboard.

Step 6. When selling and buying, I will click both Checkboard links: one for the text about my sale to them; the second for their purchase text sent to me.

Step 7. On a sale, I must upload supplementary documents, if I:

7.1  If I don’t live at the sale property

If you reside in a care home, make sure to provide us with an official letter from the care home confirming this. On the other hand, if it is a buy-to-let property then we require documents addressed to the sale property like building insurance policy or mortgage statement/service charge bill that are under your name.

7.2. If I sell as an Executor (Personal Representative)

It is essential for me to upload a Grant of Probate.

7.3.  If I sell under a Power of Attorney (e.g., the seller is without full mental capacity)

To complete this process, I must upload both a Power of Attorney document and an official letter from the GP affirming that the seller has full mental capacity.

 

5 DAY DEADLINE TO PASS AML

To guarantee your protection from potential deception, the procedure should take no more than 24 hours to finish. If after instructing your lawyer you don’t pass within five days, it can result in fines up to £10,000 and possibly imprisonment for 14 years. Therefore, make sure that everything is done properly and quickly!

 

DO I HAVE A CHOICE?

With Checkboard, your security is of utmost importance to us. We believe that by only accepting clients who use our system, we can best protect you from the risk of fraud and identity theft. For those willing to take on a greater chance for loss through their purchase – either via paper or online documents – then you may choose another lawyer prepared to do so; however, note that such risks could lead to hundreds of thousands in lost funds.

To help ensure your utmost security, we now solely use the FCA regulated Checkboard that securely protects your data through its government-backed Open Source banking technology.

 

14 YEAR’S IMPRISONMENT & £10,000 PENALTY

Criminal offence – imprisonment term

Amount of Money Ordered to be Paid Maximum Term for Proceeds of Crime Act    Sentencing
£10,000 or less   6 months
More than £10,000 but no more than £500,000   5 years
More than £500,000 but no more than £1 million   7 years
More than £1 million   14 year

 

 

IS CHECKBOARD SAFER THAN PAPER?

Yes. The Checkboard app is more secure because:

1) Checkboard is regulated by the Financial Conduct Authority (FCA),

2) Checkboard uses biometric software (similar to the passport office),

3) Checkboard uses the government-backed Open Banking technology, and

4) Checkboard has integrated with the top 78 banks (via the banks’ “true layer” system).

In comparison, lawyers that refrain from using digital technologies to receive client documents are exposed to a much greater risk of fraud because paper-based systems can be easily tampered with. That’s why we only collaborate with customers who use the Checkboard app – an open source banking technology accredited by highly secure government protocols.

 

CHECKBOARD STEP BY STEP GUIDE TO PASSING AML

Sale AML check – How do I pass?

Email: Tap the grey box to enter your email. You can tap outside the box or press done to confirm the email address

Step 1: Tap in the box

Step 2: Enter your email address

Step 3: Save by tapping update

 

ID: Ensure you have the original in-date passport or driving licence before starting this check

Step 1: Ensure that you can scan your document on a flat, even surface. The resulting image will be uploaded to your report and may include the background.

 

Step 2: With the right lighting and a solid surface, you are now ready to begin the scanning process. Let’s do this!

  1. To begin the scanning process, please choose the country in which the ID was issued.
  2. Next, pick the issuing country accurately. Please choose between a passport or driving license as your document type.

 

 

Step 3:

  1. Carefully scan the ID and ensure that the entirety of its page is visible within the frame. Ensure your photograph is sharp, not overexposed and well-framed for the best image quality.
  2. Next, make sure your face is well-lit and center it within the frame for scanning.

 

 

You don’t have a valid ID?

Unfortunately, we will be unable to perform the checks without a valid form of identification. We highly recommend that you consult your solicitor or real estate agent for better advice regarding alternative methods and IDs available to carry out the necessary checks.

 

Address

 

If you reside in the UK, follow the steps below

  • -Select UK in country
  • -enter the postcode
  • -select the address from the list of addresses
  • -select yes if this is a current address or no if it’s a previous address

 

If you don’t reside in the UK, follow the steps below

  • -tap on the country to select the correct country
  • -enter the address line 1
  • -enter the address line 2 (optional)
  • -enter the city
  • -enter the postcode or zipcode
  • -select yes if this is a current address or no if it’s a previous address

 

To add more addresses, please tap on add address and repeat the steps

 

 

Document upload: You can upload documents to provide further evidence for things such as proof of address, employment, source of funds, etc.

If you need assistance uploading your documents, please refer to the steps outlined below:

Step 1: Select the type of document you’d like to upload

 

 

Step 2: Select the source of the document. You have the camera option in case you want to take a picture of the document

 

 

Step 3: Select the document and upload it. Wait until the upload is completed

 

 

Step 4: You can upload more documents by tapping on Add more documents or if you’re happy with the document provided, you can press continue

 

 

 

Purchase AML – How do I pass?

Email: To finalize your email address, simply tap the grey box and enter it in. To confirm the information you’ve entered, press ‘Done’ or click outside of the box.

 

Step 1: Tap in the box

 

Step 2: Enter your email address

 

 

Step 3: Save by tapping update

 

 

ID: Before commencing this check, double-check that you have your valid passport or driver’s license with you.

Step 1: To ensure that your document is accurately scanned, place it on a light-colored surface. This image, which often includes the background of the page as well, will be uploaded to your report.

 

 

Step 2: Now that you’ve found the perfect spot- with plenty of light and a plain background for your documents, let’s begin scanning!

1.select the issuing country of the ID you will be scanning

2.next, select the correct issuing country. Please select the document type. I.e. Either passport or driving licence

 

 

Step 3:

1.scan the ID, and make sure the whole page fits within the frame. You want to make sure the photo captured is not blurry and not cropped

2.next, scan your face, ensure the room is bright and that your face fits within the frame

 

 

You don’t have a valid ID?

Unfortunately, the checks cannot be completed without a legitimate ID. To find an alternative way to proceed with the verification process, please contact your solicitor or estate agent for guidance since they should have insight on what identification documents you may own that can suffice in place of an ID card.

 

Address

 

If you reside in the UK, follow the steps below

  • -Select UK in country
  • -enter the postcode
  • -select the address from the list of addresses
  • -select yes if this is a current address or no if it’s a previous address

 

If you don’t reside in the UK, follow the steps below

  • -tap on the country to select the correct country
  • -enter the address line 1
  • -enter the address line 2 (optional)
  • -enter the city
  • -enter the postcode or zipcode
  • -select yes if this is a current address or no if it’s a previous address

 

To add more addresses, please tap on add address and repeat the steps

 

 

Banking: To avoid money laundering and fraudulent activities, solicitors and law firms must be acutely aware of the origin of any large sums they are dealing with.

Follow these simple steps to effortlessly connect your digital banking!

 

Step 1: Search for your bank in the list

 

 

Step 2: Take a moment to review the consent page, and if you’re content with sharing your digital bank statement, press “Allow”. Following this action will open up your banking app in order for you to complete the procedure.

 

 

Step 3: When you have successfully connected, a confirmation screen will appear.

 

 

What happens if your bank is not listed?

If your solicitor or agent deems this section a requirement, then you should inform them that your bank is not listed and request guidance on the next steps to take.

 

SOF (Source of funds)

If your digital banking is required for source of funds, then this article will show you how to connect and make it happen. With a few simple steps, you’ll have the funding sources needed➡️

Banking

To ensure you have the necessary funds to complete your purchase, simply add digital banking and follow the below steps. Remember that if you are a buyer, all of your money must total up to the property’s purchase price. If part of this is coming from a donor or co-buyer, utilize either “gift” or “co-buyer funds” respectively when inputting them into our system.

 

Step 1: Tap on add more funds

 

Step 2: Select where the funds are coming from

 

 

Step 3: Keep adding sources of funding until you can present a straightforward breakdown indicating where the full sum is originating from.

 

 

Keep repeating this step until the ‘Confirmed funds’ and the ‘Funds required’ match.

SOW (Source of wealth)

Once you’ve added digital banking and categorized the funds, your next step will be to complete the Source of Wealth verification.

Here, you can delve deeper into the specifics of how these funds were acquired.

 

Step 1: Tap on confirm my source of wealth

 

 

Step 2: tap on begin

 

 

Step 3: You can use the template provided as a guide on how to complete SOW for each of your SOFs

 

 

Ensure to always cite the source of all reported funds.

Document upload: You can easily provide additional evidence for things like address verification, employment confirmation, or source of funds by uploading documents.

To get the assistance you need with uploading your documents, simply follow these steps:

 

Step 1: Select the type of document you’d like to upload

 

 

Step 2: Select the source of the document. You have the camera option in case you want to take a picture of the document

 

 

Step 3: Select the document and upload it. Wait until the upload is completed

 

 

Step 4: To add more documents, tap on the “Add more documents” button. Otherwise, if you’re satisfied with the document already provided, press continue to move forward!

 

 

Donor AML – How does my donor pass?

Email: To enter your email, simply click the gray box. Once you’ve finished entering your address, hit “Done” or tap outside of the box to confirm and save it.

 

Step 1: Tap in the box

 

 

Step 2: Enter your email address

 

 

Step 3: Save by tapping update

 

 

ID: Ensure you have the original in-date passport or driving licence before starting this check

 

Step 1: To ensure that the document is of quality, it must be scanned on a flat surface. Afterwards, the image (including its original background) should be uploaded to your report for review.

 

 

Step 2: Now that we have a room with adequate lighting and an uncluttered area to put your document, let’s commence scanning!

1.select the issuing country of the ID you will be scanning

2.next, select the correct issuing country. Please select the document type. I.e. Either passport or driving licence

 

 

Step 3:

  1. scan the ID, and make sure the whole page fits within the frame. You want to make sure the photo captured is not blurry and not cropped
  2. next, scan your face, ensure the room is bright and that your face fits within the frame

 

 

You don’t have a valid ID?

Unfortunately, we cannot conduct the checks without a valid form of identification. We recommend you speak to your solicitor or estate agent who will be able to provide alternate solutions with the IDs that you currently possess.

 

Address

 

If you reside in the UK, follow the steps below

  • -Select UK in country
  • -enter the postcode
  • -select the address from the list of addresses
  • -select yes if this is a current address or no if it’s a previous address

 

If you don’t reside in the UK, follow the steps below

  • -tap on the country to select the correct country
  • -enter the address line 1
  • -enter the address line 2 (optional)
  • -enter the city
  • -enter the postcode or zipcode
  • -select yes if this is a current address or no if it’s a previous address

 

To add more addresses, please tap on add address and repeat the steps

 

Banking: When handling large sums of money, solicitors and law firms have a responsibility to recognize the source in order to avoid any cases of economic crime or fraudulent activity.

To efficiently connect your digital banking, please refer to this guide.

 

Step 1: Search for your bank in the list

 

 

Step 2: If you would like to continue, please read the consent page and select ‘Allow’. This will redirect you to your bank app where you can complete this step.

 

 

Step 3: After a successful connection, the success screen will be displayed.

 

 

What happens if your bank is not listed?

If this section is required by your solicitor or agent, kindly inform them that your bank isn’t on the list and then ask for directions regarding what to do next.

 

SOF (Source of funds)

If you’re required to use digital banking, the following article will guide you on how to connect and successfully complete your source of funds➡️ Banking

After you have enrolled in digital banking, to complete the rest of your funds’ setup, please carefully follow these instructions.

 

Step 1: Tap on add more funds

 

Step 2: Choose the source of your funds.

 

 

Step 3: Keep tallying your funds until you can provide comprehensive insight into where the money comes from.

 

 

SOW (Source of wealth)

Once you set up digital banking and enter a detail of the funds, you will be asked to fill out the Source of Wealth form.

In this section, you can provide an in-depth explanation of where the funds were acquired from.

 

Step 1: Tap on confirm my source of wealth

 

 

Step 2: tap on begin

 

 

Step 3: You can use the template provided as a guide on how to complete SOW for each of your SOFs

 

 

Make sure to specify the origin of all declared funds.

Document upload: Demonstrate your qualifications and bolster your application by attaching documents that verify elements such as proof of address, employment history, and source of funds.

 

If the process of uploading your documents is giving you troubles, don’t worry! These straightforward steps will help you get it done in no time:

Step 1: Select the type of document you’d like to upload

 

 

Step 2: Choose the origin of your document. Need to capture a photo? Simply select “camera” for an easy and efficient way to get started!

 

 

Step 3: Select the document and upload it. Wait until the upload is completed

 

 

Step 4: If you wish to add more documents, select ‘Add More Documents’ or press ‘Continue’ if the current document satisfies your needs.

 

 

 

 Where do I find my invitation link to start my check?

You can find the invitation link in two places

  1. In your text messages on the mobile number you’ve instructing your conveyancer on.
  2. your email inbox.

Find below the sample examples of the checkboard invitation

Text message sample

 

  • You need to tap the link in blue that looks like https://vl.ink/**** to start your check. Please note this link is unique to you and you should not be sharing it with anyone.

Email invitation sample

  • You need to tap where it says ‘here’ in blue to start your check. Please note this link is unique to you and you should not be sharing it with anyone.

 

Why do I need to complete my check in the Checkboard app?

 

The law.

By law, all buyers and sellers must pass the government’s Anti-money laundering (AML) verification process. This is to protect against financial deception due to the billions of pounds exchanged between various parties.

 

A criminal offence can be committed carrying a sentence of up to 14 years imprisonment and a £10,000 fine if AML is not followed.

 

If you are buying or selling, or both, you must: 

1. Pass your Identification and Address check.

At your normal residing address, e.g., to prove your identity has not been stolen.

 

If you are buying only, in addition, you must:

2). Prove your Source of Funds.

By providing evidence of where your source of purchase funds originated from.

 

How seriously do Checkboard treat your data?

Very. To provide you with assurance, not only is Checkboard regulated by the Financial Conduct Authority (FCA) – just like high street banks – but we’ve also adopted Open Banking technology which has been approved and secured by the government. This guarantees that your financial information is handled securely at all times.

 

Our approach is to reduce your risk. 

With paper bank statements being susceptible to forgery by criminals, Checkboard app utilizes Open Banking technology that is backed and secured by the government which allows you to access your statement digitally in only a few minutes. Just follow our simple steps within the app when prompted!

 

Helpline? 

You shouldn’t get stuck, as Checkboard it’s an easy process, but if you do, use our help facility or call us 0204 566 8106.