Thirdfort – online identity check

We use Thirdfort to provide online identity checks and proof/source of funds.

Why do we need an online check?

For certain legal  matters, which involve financial transactions and property, we are under a regulatory and legal duty to check our clients identification before acting to prevent money laundering, and terrorist financing. The checks we carry out are known as anti-money laundering procedures – that you may see shortened to AML.

Very simply we need to check that you are who you say you are, live at the address you provide to us, check where your funds will come from, how the funds were acquired and get proof that the funds are available to use for the specified transaction. We also need to check whether you are a Politically Exposed Person (PEP), or connected to a PEP, as there are certain positions where it is easier to acquire funds that have not been gained lawfully.

We also need to check that your name does not appear on any Government checklists that name people who are known to be connected with terrorism.

Especially when buying or selling a house, you may have noticed that your mortgage lender and your estate agent has asked for the same information and this is because every institution involved in facilitating your house sale or purchase is required to carry out these checks for themselves.

Money laundering is a very serious offence as it perpetuates crime and funds violence and misery. It is a imprisonable offence for not only the money launderer but also anyone who helps to facilitate money laundering and we don’t want to find ourselves in that position.

Many of our clients live in South Tyneside and are able to travel to our office to have their identity check  and other checks completed, but sometimes travelling to our office is not possible.

This causes difficulties in carrying out the necessary checks, but does not legally excuse us from carrying out these mandatory checks. We cannot start a case, for example a house purchase without these money laundering checks being carried out.

When a client can’t meet with us in person, or has difficulties in doing so, we request Thirdfort to conduct the checks for us.

Thirdfort will check identification. whether the person being checked is a PEP, and if it is necessary check the source of funds being used in a transaction.

Thirdfort is an online identity check service and an App is used to conduct the check and to upload the necessary information.

Clients tell us that it is very easy to use.

There is a cost to our clients for using this service. When we respond to a client who has requested a quote we will inform them of the up to date prices for Thirdfort.

Information about the check, how it is made and about the safety of your data is explained here: Thirdfort Guide

If you need any further information about why we have to conduct identification checks please call your solicitor or lawyer for more information. We also provide more information about Thirdfort in our initial Client Care Letter.

For conveyancing clients more information can be found here

Please give us a call if you have any queries regarding Thirdfort on 0191 4555361