Know Your Client ("KYC")
The Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 to 2021 designates accountants, auditors and tax advisors for the purposes of the anti-money laundering provisions.
The provisions of these Acts, require us to implement certain procedures to establish client identity and impose reporting obligations in respect of suspicions regarding offences under the money laundering legislation.
Accountants, auditors and tax advisors are required to, amongst other things, carry out Customer Due Diligence to:
- Verify the identity of new clients, including that of any beneficial owners who are connected with the client or the service they provide;
- Establish and retain records of identification for at least five years from the date of last doing business with the client;
- Retain original documentation relating to transactions for a period of at least five years following the execution of the transaction;
- Establish measures to prevent and detect money laundering;
- Report suspicions of money laundering to the Garda Siochana and the Revenue Commissioners;
- Establish procedures to ensure all transactions connected with certain designated states and territorial units are reported;
- Ensure adequate control over client monies.We are required to report to the Revenue Commissioners and An Garda Siochana directly in the circumstances set out above and may do so without the knowledge or consent of the client.
How we collect your KYC paperwork
We use ID-Pal’s app to provide a seamless, end-to-end solution for capturing, verifying and storing customer identity documents and information. This makes the process friction free for both us and our clients
Every submission is thoroughly verified and authenticated using a suite of industry-leading biometric, document and database checks.
Step 1 : Receive ID-Pal app link and follow the easy onscreen instructions.
Step 2 : Capture ID documents and personal ID information.
Step 3 : Send ID information securely to the ID-Pal web portal.
Extremely user-friendly experience
- Upload ID documents in less than 1 minute. The app is simple and intuitive allowing customers to capture and submit their ID documentation in less than 60 seconds.
- Remote onboarding. ID documentation can be uploaded from anywhere and at any time, even from the comfort of their own home. No need to have true copies certified or travel to provide material in-person.
- 2-click app download. Customers receive a link that takes them directly to the ID-Pal app. No need to search through the app store.
