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Banking: Proof of Identity

Volume 698: debated on Tuesday 5 February 2008

asked Her Majesty's Government:

Whether financial institutions obliged to seek proof of identity from long-standing customers under money laundering regulations are required to request a counterpart driving licence in addition to a photocard licence, given that the former contains no additional information on the holder's identity. [HL1580]

The UK's money laundering regulations require firms to identify their customers and to verify that identity based on material obtained from reliable and independent sources. The UK does not specify that firms carrying out those checks must see a driving licence.

Financial services firms carrying out these checks receive practical guidance from the Joint Money Laundering Steering Group (JMLSG). The JMLSG guidance discusses the wide range of evidence of identity that firms can accept. The latest JMLSG guidance was issued in November 2007, was endorsed by the Chancellor of the Exchequer in December, and is publicly available on their website at www. jmlsg.org.uk/bba/jsp/polopoly.jsp?d=754.