Anti Money Laundering Question

Blue_Horizon

Hi - a quick question about our mortgage application.

Our mortgage provider carried out it's AML checks, which we passed. Now the solicitor we are using is doing the same, but they are very thorough.

My wife is missing details of one account, which she used for about a year. The savings company was taken over by Santander (Abbey) and they say they can only provide brief info e.g. dates and opening/closing balance. They say they can't produce a statement.

I'm worried that our solicitors will not take this information as they have said that they need a full trace of where the money came from and where it has been.

All this seems very draconian to me, we can prove the the money came from, surely that should be enough?

Blue_Horizon

Just bumping this up in the hope someone has an answer :-)

tyllwyd

If it was a savings account, do you have any bank statements from other accounts to show money being transferred in, to open the Abbey account and transferred out again to close it? Was the account used in the meantime?

oz0707

The solicitor im using has asked for quite alot of info as yours has. I'm calling them Mon the explain the situation, suggest you do the same?!

zppp

Solicitors are under a legal obligation to detect money laundering, as they are on the front line processing large or repetitive transactions. Can you not do an online printout and explain what Santander said?

Blue_Horizon

Ok - some answers to the q's above:

tyllwyd - We have already provided this info and the account was only used to for these savings.

oz707 - i've had several conversations with the sols, they are firm in what they need.

zppp - the account is now closed. We are waiting for something back from Santander, but are not sure what this will be. We are planning a follow up call with them today to request that they email what they have.

I thought that financial institutions had to keep information for at least 6 years, so we are going to press Santander for the info we need.

maninthestreet

If the money is a bank account or BS account, isn't that sufficient proof? The bank or BS involved would have performed their own mondey-laundering investigation when the money was deposited.