Due Diligence &
Risk Assessment Service
Inc. Source of Funds
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Due Diligence & Risk Assessment Service For Regulated Businesses
If your business is covered by the Money Laundering Regulations, you must meet certain day-to-day responsibilities. These include carrying out ‘customer due diligence’ measures to check that your customers are who they say they are, and risk assessments of any transactions in scope of the regulations.
At the Regulation and Compliance Office (RACO), we provide regulated businesses with a seamless, outsourced solution for Client Due Diligence (CDD) and Risk Assessments.
Our Due Diligence and Risk Assessment Service has been designed to enable businesses covered by the AML regulations to focus on the provision of its services while we collate the necessary documentation for Due Diligence, Enhanced Due Diligence (where needed), and completion of the Risk Assessments which must be completed on all transactions or client matters in scope of the Money laundering Regulations 2017.
Why Choose Our Service?
- Comprehensive Due Diligence – We collect, verify, and assess all necessary documents, including KYC and AML checks.
- Risk Assessment Support –We prepare the Risk Assessment for compliance officers and staff to review and approve.
- Seamless Integration – We work with your firm’s existing AML processes, ensuring compliance without disruption.
- Cost-Neutral Approach –Our service fees can be passed on to clients as part of your service or administration fees.
What’s Included?
- Collection of KYC documents (Photographic ID & Proof of Address)
- Access to your Electronic AML Provider for requesting AML checks
- Companies House checks for Ultimate Beneficial Owners (UBOs)
- Ongoing monitoring & Enhanced Due Diligence (EDD) where needed
- Transaction risk assessments & detailed reports for staff and compliance officers
For full details on our service, including requirements and processes, download our comprehensive Due Diligence & Risk Assessment Brochure.
Download the Full Service Brochure
For more information and costings
Contact Our Team
To ask any questions about the Regulation and Compliance Office and how we can support your Law Firm, please call us on 0203 985 8550, complete the online enquiry form below, or email us info@regulationandcomplianceoffice.co.uk