A friend of mine was asked to submit residence proof and passport for money laundering by his accountant.?
is it normal practice for an accountant to ask for residence proof and passport copy for money laundering purposes? when does an accountant ask for these details? please let me know.
Law & Ethics - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Apparently your friend had many dealing with large sums of money. The accountant is just ensuring that everything is legitimate.
Answer 2 :
Yes, when a certain income level is reached.
Answer 3 :
This happened to my wife a few years back when she opened an account with Bradford & Bingley. She was asked to produce a utility bill plus her passport. After giving this some thought she went back to the branch and demanded the copy`s they had made returned, which they did. They still gave her the account.
Answer 4 :
It is normal practice nowadays. Whether it is buying a house or opening a bank account you are required to provide proof of identification and in most cases proof of where the money is coming from. I have to provide the proof every year to my accountant despite having used them for at least the last seven years - it is the law.
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