Using digital identities with the Money Laundering Regulations
The guidance sets out how entities regulated under the Money Laundering Regulations can use digital verification services for customer due diligence checks.
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This guidance is jointly published by His Majesty’s Treasury and the Department for Science, Innovation and Technology.
It clarifies how digital verification services can be used for identity verification checks required under the Money Laundering Regulations (MLRs). In order to be used for these checks, digital verification services must be on the GOV.UK Register of services certified against the UK digital verification services trust framework. The new guidance supplements but does not supersede obligations under the MLRs.
This guidance may be useful for firms regulated under the MLRs, as well as for sector guidance bodies, who may now wish to consider whether any updates to their own guidance are appropriate.