Armalytix system

[Murdochcat]

Anyone else had the misfortune to have to use this system for a solicitor to prove the source of money?

Seems overly complicated and asking too many questions of me only and not my wife - we are gifting a smallish sum of money to our son to help him with his deposit

 

[MNW67]

I can't even work out why they are asking. Is it for anti crime and anti money laundering rules.

 

[Murdochcat]

I can't even work out why they are asking. Is it for anti crime and anti money laundering rules.

Anti money laundering mainly

 

[blup]

As I understood it They have to ask about the source as well, if the gift is less than 12 months.(?)

 

[Murdochcat]

Nope. We have to prove where we got the money

 

[motorbiking]

KYC regs. Know Your Customer. Solicitors are liable to anti-money laundering laws.

I suspect you may have answered one of the questions "wrong". Best to say its come from savings.