The risk of vendor conveyancer fraud has increased in recent years. As fraudsters have adapted their methods, it is no longer okay to assume that a solicitor is safe to deal with, even if you recognise the name as a reputable practice. In fact, it may be a criminal using a stolen identity and diverting the funds to their own account.
Lawyer Checker is a simple but effective online service that allows you to gather further information on the vendor conveyancer that you are sending purchase funds to. When account and firm details are submitted, Lawyer Checker will identify if there is a track record or previous use associated with that account. An immediate response of "frequent", "infrequent" or "unknown" will be returned. If "infrequent" or "unknown", Lawyer Checker's in-house team will conduct further checks to give you more information and help you decide if it is appropriate to send money to that account.
Users of Lawyer Checker can benefit from a free of charge refresh. This is useful if there is a lag of several months before exchange of contracts, as it enables you to check that you're still comfortable with transferring funds to the vendor's conveyancer.
If you would like to take advantage of this refresh service, please email the Geodesys Customer Services Team.
Personal AML Search is the UK standard in anti-money laundering customer due diligence screening. It's quick, simple and verifies the identity of your customers in real-time.
A simplified AML search is offered for low risk assessments and an enhanced AML search is offered for low, medium and high risk assessments. The enhanced search includes additional postive and negative verification of identity, date of birth and address.
You are required to register for AML products and this process should be carried out initially by your Money Laundering Officer, by entering the company's Information Commissioners Office (ICO) number, when prompted. All colleagues covered by the same ICO number are then automatically registered.
For a step-by-step guide to ordering AML products please refer here.