›

AML for corporates/companies - SIPP contributions from an employer

amcmillanamcmillan Member
in Paraplanning tips & tricks

Hi all

Very interested to hear your thoughts on money laundering a corporation/employer, when they have agreed to pay/divert pension contributions from an employees company pension into a SIPP we run.

I've seen varying levels of detail for money laundering companies in this manner:
- Full AML on every director - online checks, or passports/driving licence/bank statements
- Details of shareholders with interest over 25%
- Company headed paper

Clearly, for large corporations money laundering every director is completely prohibitive.

What's the thoughts on here of best practice and how do you all look to work around this?

Share on Google+
Sign In or Register to comment.