Anti-Money
Laundering (AML) Policy

At Akai Homes, we are committed to maintaining the highest standards of integrity and transparency. In line with UK legislation, we are required to carry out identity and verification checks on our clients and relevant parties before proceeding with property transactions.

Our Legal Obligations

Akai Homes complies fully with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as well as related legislation including the Proceeds of Crime Act 2002.

These regulations require us to obtain satisfactory evidence of identity and, where applicable, source of funds and source of wealth.

When Identification Is Required

Identification and verification checks must be completed:

• For sellers and landlords: at the point you instruct us to market your property
• For buyers and tenants: once an offer has been accepted
• For investors or corporate clients: prior to any transaction proceeding

If the required information is not provided within a reasonable timeframe, this may delay the transaction or require us to withdraw from acting.

Individual Clients

For individuals, we are required to verify both identity and address. This typically includes:

If you do not have standard documentation, our team will discuss acceptable alternatives with you.

Corporate & Trust Clients

For companies, partnerships, trusts, or other legal entities, additional documentation is required, which may include:

• Certificate of incorporation
• Articles of association or partnership agreement
• Confirmation of directors and persons with significant control
• Identification of beneficial owners

A beneficial owner is generally any individual who owns or controls more than 25% of the entity, directly or indirectly, or otherwise exercises control.

For trusts, this may include details of the settlor, trustees, and beneficiaries.

Verification & Record Keeping

Where possible, we will verify original documents. If copies are provided, these may need to be certified by an appropriate professional (such as a solicitor or accountant).

In line with legal requirements, Akai Homes will retain copies of identification and verification documents for up to five years after the end of the business relationship.

We may also use reputable third-party electronic verification services to assist with identity checks.

From time to time, we may request additional information to ensure ongoing compliance with regulations.

Existing Clients

For returning clients, we are required to confirm that your details remain current. You must inform us if there has been any change in:

• name
• address
• ownership structure
• or beneficial ownership (for corporate entities)

Source of Funds & Source of Wealth

We are required to verify the source of funds used in any property transaction. This may include:

• bank statements
• confirmation of mortgage finance
• or written evidence of funds being transferred

Where funds are provided by a third party, the same level of checks will apply to that party.

In certain circumstances, we may also need to establish the source of wealth, which may involve asking how the funds were accumulated.

Confidentiality & Reporting Obligations

Akai Homes has a professional duty to treat all client information confidentially.

However, if we know or suspect that a transaction involves money laundering or terrorist financing, we are legally required to make a report to the National Crime Agency (NCA). In such cases:

• we are prohibited by law from informing you that a report has been made
• we may be required to suspend or cease work on the transaction
• we cannot discuss the reasons or outcome of any report