Money Laundering Checks

In order to comply with the HMRC Money Laundering regulations, Alto allows the following:

  • You can store information about the Money Laundering Checks you have carried out
  • You can warn users that the check has not been carried out for the vendor/landlord/applicant, when making an offer or changing the property status
  • The completion of this check can be a mandatory setting or given to the user as an advisory warning that can be overridden
  • You can report on all records that have not had money laundering checks completed

This article includes: 

Set up Money Laundering Checks

  1. Click Tools on the main toolbar
  2. On the side menu, under System Tools, click System Administration
  3. Click Branches
  4. Click Edit next to the relevant branch
  5. Scroll down to Money Laundering Check Visibility Options. There are three options within the dropdown menu:
    1. None - When set, no messages will appear but the Money Laundering Checks fields on the Contact screen can still be used. This is the default setting
    2. Show - When set, the user will be prompted with warning messages but can choose to override these
    3. Mandatory - When set, the user will be prompted with warning messages and will not be allowed to continue until all the required Money Laundering Checks are completed
  6. Scroll down and click Save

 Note

If you set the configuration differently between branches, Alto will use the configuration for the default branch of the negotiator, and not the configuration for the branch of the property (if these are different)

Screen changes

If you now navigate to the Money Laundering Checks section:

  1. Click Contacts on the main toolbar
  2. Select the relevant contact from Recent & Favourite Contacts
    1. Alternatively, find the contact using the Search Contacts bar in the top right
  3. Click Contact on the side menu
  4. Click the Position top tab
  5. There is a Money Laundering Checks section which contains a tickbox called ID Check Completed and a free text field for Money Laundering Notes, which is mandatory once the tick has been checked

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When these fields are completed, an entry is placed on the Overview Recent Activity and on the Timeline to record that this action has been taken.

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Warning checks

If Money Laundering Check Visibility Options has been set as either Show or Mandatory in the Branches settings, and one of the following actions takes place:

  • Change Status is used to change a property from Instructed to Available or from Withdrawn to Available
  • an Offer is accepted,

a warning message will display. When making a check of the records, Alto will include the vendor (all of them in the case of multiple vendors), the Landlord and/or the Applicant.

The warning message content and behaviour will depend upon whether or not the Mandatory setting has been used:

  • If the Mandatory setting has been set, the message will be:

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You can only click OK and the message will close. You must complete the Money Laundering Checks section and then return to the screen to continue with the action being taken.

  • If the Mandatory setting hasn't been set, the message will be:

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You can either click Yes and continue with the action you're taking, or you can click No and complete the Money Laundering Checks section and then return to the screen to continue with the action being taken.

Conducting Money Laundering Checks

  1.  Click Contacts on the main toolbar
  2. Select the relevant contact from Recent & Favourite Contacts
    1. Alternatively, find the contact using the Search Contacts bar in the top right
  3. Click Contact on the side menu
  4. Click the Position top tab
  5. In the Money Laundering Checks section, tick ID Check Completed if a check has been completed
  6. Enter information within the Notes field that outlines what documents you've seen and whether they're high or low risk
  7. Click Save

On the contacts Timeline, a new entry appears which confirms that a Money Laundering Check has been completed, with the Notes information displayed below.

The video below shows you how to conduct Money Laundering Checks.

Checking if Money Laundering Checks have been completed

There is a match group that will report any contacts who have active offers, but have not yet had the details in the Money Laundering Checks section completed.

To find the match group:

  1. Click Contacts on the main toolbar
  2. Click Groups in the top left
  3. In Default Groups in the top left, click AML Checks
  4. You have the choice between 3 dropdown menu filters:
    1. Contact Type - Applicants, Landlords, Vendors
    2. Branches - All Branches, Individual Branch
    3. Consent - All Contacts, With General Marketing, With Property Matching, With Both

If you change the Contact Type to Vendors, you can change the Stage to make the list more manageable.

If required, you can slide the toggle alongside AML Checks to pin a list of contacts. Pinning a list of contacts will mean:

  • This exact list of contacts will be saved until you later decide to unpin it
  • Alto will remember your current position in this list
  • You can save a description by which to remember this list

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You can then expand the group and work through the group.

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