AML - Why?
What is AML?
Solicitors are very heavily regulated by the various financial regulators and the Law Society of Scotland. Particularly since the financial crisis one of the areas where we are required to make all sorts of checks relates to the identification of all client's and sometimes others and the source of funds to facilitate conveyancing transactions.
In 99% of cases the information will not create an issue but there are procedures that we have to follow. It is vital that we have correct information as otherwise your transactions may be delayed and additional costs incurred. This means that it is vital to answer our enquiries quickly and fully. We totally understand these can be frustrating and appear unnecessary but we do not have any choice. If you do delay in dealing with the requirements it may delay your transaction and/or incur additional costs.