By Law we are required to prevent our services being used for money-laundering or terrorist financing purposes. The obligations are set out in the Money Laundering, Terrorist Financing and Transfer of Funds Regulation 2017. Then further, The Money Laundering and Terrorist Financing (Amendment) Regulations 2023 further amend the MLRs 2017 to require enhanced due diligence from auctioneers and Estate Agents.

The Regulations requires us to carry out customer due diligence. This includes the identification of:

The Buyer

The Bidder – if different from the buyer and

The person providing funds for the deposit

If you bid as agent or representative for the buyer, you will also need to provide us with written evidence of your authority to do so from the buyer.

The table below shows the identification documents usually required. If the capacity in which you propose to purchase is not shown, please discuss with World Of Auctions director as soon as possible before the auction.

We may also undertake further identification checks through 3rd party sources. Any personal data obtained from the purposes of complying with the regulations may only be processed by us for the prevention of money laundering or terrorist financing.

It is important that you are aware that under clause A6.5 of the Auction Conduct Conditions of the sale contract can be ended by us if, in our absolute discretion, we are not fully satisfied with the compliance under the Regulations.

Auctions – Dates

ID means the originals of

• Photo ID issued by a government authority with full name, date of birth, passport, driving license

• Proof of residential address such as a utility company or council tax bill or bank statement within the last three months

We may accept photocopies of these documents providing each document page has an original certification by an appropriate person such as a bank, financial institution, solictor, chartered accountant.

Financial Conduct Authority | FCA

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