Evolv Private Office Money Laundering Policy Statement

Invergo Limited t/a Evolv Private Office is committed to ensuring that it has adequate controls to counter money laundering activities and terrorist financing activities, in line with the Money Laundering, Terrorist Financing and Transfer of Funds (information on the Payer) regulations 2017. Invergo Limited t/a Evolv Private Office are registered with HMRC for anti-money laundering supervision under the Money Laundering Regulations.

Risk sensitive policies and procedures have been established in order to anticipate and prevent money laundering and terrorist financing.

A risk sensitive or risk-based approach is where businesses assess the risk of customers laundering money through their business. Whilst Invergo Limited t/a Evolv Private Office take the starting point that most customers will not launder money we do identify criteria that may indicate a higher risk of money laundering – e.g. where there is no face-to-face meeting to establish identity.

Invergo Limited t/a Evolv Private Office has undertaken a Risk Assessment of its business activities to ensure its Money Laundering compliance is commensurate with the risks identified. As a result of that risk assessment it is Invergo Limited t/a Evolv Private Office policy to undertake customer or enhanced due diligence on all customers and clients of the estate agency sales business.

Invergo Limited t/a Evolv Private Office risk assessment outlines the types of transactions that the business is involved in and details the procedural requirements for each situation based on the level of risk. This company risk assessment is kept under regular review and updated as and when required.

Invergo Limited t/a Evolv Private Office is committed to staff training in anti-money laundering legislation and this is also covered as a part of the induction of all new staff.

Invergo Limited t/a Evolv Private Office MLRO is Emmanuel Aymes based at Vicarage House, 58-60 Kensington Church Street, London, W8 4DB office who will forward reports to NCA as necessary. Adherence to the “Customer or Enhanced Due Diligence” (CDD or EDD) identification procedures on every occasion will mitigate the risks of the business being used to launder money or fund terrorism.

It is Invergo Limited t/a Evolv Private Office policy that all clients must be identified fully with a minimum of two forms of ID, evidence of identity being photographic and also evidence of residence e.g. a utility bill dated in the last three months. In the case of sellers and landlords a Land Registry title check is undertaken.

Should a face to face meeting not take place then enhanced due diligence procedures will need to be adopted by asking for additional information or evidence to establish the customer’s identity, and ensuring that the documents supplied are certified by a professional such as a lawyer, accountant, surveyor etc. and that the validity of that professional has been ascertained and recorded in our risk assessment .

A check will be made of the PEP and Sanctions register and any concerns investigated further including reporting to the MLRO.

As part of our due diligence, an approved online money laundering check, where required, will be made with an approved supplier.

Where the customer’s identity is checked by documents this should be based on:

A government issued document with the customer’s full name and photo with either the customer’s date of birth or residential address such as:

1.  Valid passport

2.  Valid photo-card driving licence

3.  National identity card

4.  Firearms certificate

A government issued document (without a photo) which includes the customer’s full name and supported by secondary evidence:

1.  Old style driving licence

2.  Recent evidence of entitlement to state or local authority-funded benefit such as housing benefit, council tax benefit, pension, tax credits

Supported by secondary evidence such as

1.  A Land Registry title search

2.  A recent utility bill

3.  Bank or building society statement

4.  Most recent mortgage statement from a recognised lender For customers other than private individuals

For customers who are not private individuals, such as corporate customers and private companies, Invergo Limited t/a Evolv Private Office will obtain information that is relevant e.g. company registration number, registered address and evidence that the individuals have the authority to act for the company – for UK registered companies a search at Companies House will reveal details of directors and company secretary (PSC register).

The above requirements for documentation will be applied to all shareholders or those holding voting rights at 25% or more of a business.

 Suspicious Activity Reporting

A report should be made if a member of staff/ the nominated officer thinks that there is a possibility, which is more than fanciful, that a person is or has been engaged in money laundering or terrorist financing.

The report should be made to Emmanuel Aymes, the Invergo Limited t/a Evolv Private Office Money Laundering Reporting Officer.

Once the MLRO has considered the matter, a suspicious activity report may be raised with the National Crime Agency (NCA).

What is Suspicious Activity?

This list is by no means exhaustive but includes:

New Customers:

Reluctance to provide details of their identity

Customer is trying to use intermediaries to hide their identity or involvement

There appears to be no genuine reason for the customer using the business’s services Lack of evidence (or an avoidance in disclosure) of the source of funds

Regular/Existing Customers:

Money is paid by a third party who does not appear to be connected with the customer The customer requests payment to a third party who has no apparent connection with the customer

A cash transaction is unusually large and the customer will not disclose the source of funds. A transaction is carried out for less than market value with an unconnected person

Should a report be made then it is important that this fact, and any information about the transaction in question, is kept confidential

Record Keeping

The following records are required to be kept for 5 years:

Copies of, or references to, the evidence obtained of a customer’s identity for five years after the end of the customer relationship, or five years from the date when the transaction was completed. Supporting records relating to a customer relationship or occasional transaction for five years from the date when the transaction was completed.

The purpose for keeping these records is to demonstrate the business’s compliance with the regulations and to aid any resulting investigations.

An audit of Invergo Limited t/a Evolv Private Office’ compliance with Money Laundering Regulations will be undertaken annually (or more regularly if deemed appropriate).