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Law Society select 192 as preferred supplier
Law Society select 192business as preferred supplier for identity & KYC checking
The Law Society of England and Wales has today announced that it has selected 192business as its preferred supplier for identity and KYC checking.
Recent regulations including the 3rd EU Money Laundering Directive and the UK Money Laundering Regulations 2007 are placing an increased focus on how law firms have a key role in helping combat the threat of money laundering facilitating organised crime and terrorist financing.
The Law Society has produced an Anti-Money Laundering Practice Note and runs both Money Laundering Reporting Officer networking groups and CDD related training in anti-money laundering compliance for solicitors around England and Wales.
“We are pleased to announce that the Law Society has selected 192business as its preferred supplier for identity and KYC checking” said Neil Skinner, business development manager at the Law Society. “Instrumental in our decision to appoint 192business was their understanding of law firms’ money laundering compliance requirements and the data and features in their KYC tools that can help MLRO’s meet their client due diligence requirements”
"As part of the 192business partnership with the Law Society we have negotiated preferred pricing with 192business for Law Society members”
“Our ID check technology is used by businesses large and small across the UK to prevent ID fraud and detect potential money launderers” said David Pope, director at. “Our easy to use ID check tools can quickly check client identity using a range of databases such as the Electoral Roll, credit reference data and lists of known fraudsters, money launderers and terrorists.
Using our ID check tools to quickly establish client identity will help law firms get on with the business of acting for their clients and earning fees whilst helping meet AML compliance requirements. It is of course very pleasing that our ID check tools have been selected by the Law Society and we look forward to helping its members with their CDD requirements."
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For further information, please contact the 192 Legal Team on:
Tel: 020 7909 2192, E-mail: id@192.com
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