# The Money Laundering Regulations 2003, Regulation 4: Identification procedures


(1) In this regulation and in regulations 5 to 7—
(a) “A” means a person who carries on relevant business in the United Kingdom; and
(b) “B” means an applicant for business.
(2) This regulation applies if—
(a) A and B form, or agree to form, a business relationship;
(b) in respect of any one-off transaction—
(i) A knows or suspects that the transaction involves money laundering; or
(ii) payment of 15,000 euro or more is to be made by or to B; or
(c) in respect of two or more one-off transactions, it appears to A (whether at the outset or subsequently) that the transactions are linked and involve, in total, the payment of 15,000 euro or more by or to B.
(3) A must maintain identification procedures which—
(a) require that as soon as is reasonably practicable after contact is first made between A and B—
(i) B must produce satisfactory evidence of his identity; or
(ii) such measures specified in the procedures must be taken in order to produce satisfactory evidence of B’s identity;
(b) take into account the greater potential for money laundering which arises when B is not physically present when being identified;
(c) require that where satisfactory evidence of identity is not obtained, the business relationship or one-off transaction must not proceed any further; and
(d) require that where B acts or appears to act for another person, reasonable measures must be taken for the purpose of establishing the identity of that person.

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Source: https://www.legislation.gov.uk/uksi/2003/3075/regulation/4 (the official version)
Page: https://openlegislation.uk/money-laundering-regulations-2003/regulation-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.