Applying for mortgage. Anti-money laundering entry on credit report- what on earth???

longjohn12

Hi. Applying for a mortgage so I have been looking through my credit report from Noodle and under the 'search history' section of the report there are 9 Antin-money laundering entries all from Corals bookmakers. Obviously concerned about this so I rang them up and they said i tried opening an account with them although already having one with them. I actually recall trying to open the new account in March to take advantage of an offer but i remember having trouble trying to use the offer and in the end i left it. The guy on the phone said that the search is just for identification (like similar entries that are under the 'search history') and because i made multiple attempts to open a new account that's why there's multiple entries but he said it nothing to worry about! This just doesn't seem right to me why would it be under the title 'Anti-money laundering' and not 'identification check' as others do like when taking out car insurance. I'm worried now this is why my credit score is only 3/5, my credit score should be good. I am not in my overdraft and i have made all credit card payments without default. Can anyone shed any light on this please i have a screen shot available if needed. Thanks.

longjohn12

Can anyone shed any light on this? Considering my wife and I have had a offer accepted on a house we're looking to buy this is quite a stress to me at the moment!

Opinion

Corals T&C

"6.4 Where deposits and withdrawals exceed agreed limits, and in accordance with regulatory and statutory Anti-Money Laundering guidelines, it may be necessary to carry out further customer verification to meet our Licence obligations."

You said in another thread that you gamble quite a lot, so the above may be relevant.

Also, if you make a lot deposits/withdrawals in quick succession, or make large bets on close to even odds, I would imagine that would be a red flag for money laundering. (Note: Pure speculation.)

longjohn12

Thanks for the reply. The search entries were all on the same day and I hadn't made any deposits or withdrawals around the time. I think what you quoted from their terms would apply if someone was making deposits from one account and trying to withdraw to another which is more like money laundering!

Found this reply on another thread on the site

'it is likely to be a check to verify your identify and/or your address for money laundering regulations. we use it to do this rather than ask for 2 items of ID for safety, it means no ID is at risk in the post'.

Bonfire_Bride

I wouldnt worry about it. I work for a finance company and you have to pass a credit check prior to interview. In my credit file, there was a soft search which had the same reference as yours. I do not gamble at all...

It could be the same thing...but why not contact the credit referencing agency to get some clarity on i?

tvfreek

Any organisation you open an account with is under an obligation to identify you and make sure no one is impersonating you.

We call this Anti Money Laundering or an Identity Check and its nothing to be concerned about.

longjohn12

Thanks for the info I can relax now.

Mortgage_Mark_2

One other thing, don't pay any attention to your 'credit score' on Noddle. Until Noddle start lending money, it's worthless and is just their reading of your credit file.

Same goes for Equifax and Experian. To demonstrate how useless they are; I have a client who was discharged from bankruptcy in 2010 who has a 999 score on Experian...