Written question asked by Lord Berkeley (Labour), in the House of Lords. It was answered by Lord Sassoon (Conservative) on Tuesday, 27 July 2010.

Disabled People

Question: To ask Her Majesty’s Government what measures there are to allow disabled people not in possession of driving licences, signed passports or utilities bills in their own name who want to invest money to do so, given that HM Revenue and Customs require such identification in order to comply with money laundering legislation.

Answer: Under the Money Laundering Regulations 2007 financial services businesses are required to identify their customers and verify the customer’s identity on the basis of documents, data or information obtained from a reliable and independent source. The regulations do not specify that any particular documents (such as passports) must be produced. Guidance on the application of the regulations produced by the independent Joint Money Laundering Steering Group, and approved by HM Treasury, provides that financial services businesses should, as a part of their risk-based approach, consider a wide range of other documents where a customer does not have a passport. Where appropriate that evidence can include, for example, benefit or pension documents, letters from persons in responsible positions such as the matron of a care home, and other evidence of identity and address.

Secondary information

Type: Written question
Reference: 1689; 720 c314WA
Session: 2010-12
Subjects: Disability Crime prevention Financial services Money laundering Proof of identity
Link: View this Written question on www.publications.parliament.uk