News and Events
Published Articles
The crime of Money Laundering – Cash payments and identification
Due to money laundering regulations, all solicitors have had to make a policy decision that they can no longer accept payments, however small, in cash, including
cash payments made into another bank to be transferred to our account.
We realize that this will cause inconvenience to some clients and for this we can only apologies. The difficulty is that we can ourselves be prosecuted if we
receive cash, in however small an amount, where the money turns out to come within money laundering regulations. Unfortunately, we seldom have time, and are
certainly not paid, to make the enquiries needed to ensure that the money comes from a reputable source.
Very, very occasionally, at our discretion, we may agree to accept cash payments but only for small sums, for well established clients of this or other firms, in
emergencies, where we know the source of the funds and where we have agreed beforehand to accept cash. These circumstances will arise only very, very occasionally,
particularly as emergencies are usually foreseeable and can be planned for.
Please do not expect our receptionist to accept cash. Her orders are not to do so, unless this has been agreed beforehand by the person in charge of your
transaction. Please also do not expect that person to agree to authorise our receptionist to receive cash, except for small sums and in rare and exceptional
circumstances.
Please also remember that we must, if we have any doubt whatever about money laundering - no discretion is allowed - refer the matter to the National
Criminal Intelligence Service. What is more, we are not allowed, save after a suitable elapse of time to allow the NCIS to respond and investigate, to give you any
indication that we have done this. If they choose to, the NCIS may even freeze all the assets of the person who has been reported, so this is not a step we wish to
take, as it will almost inevitably damage the relationship we have with you, our client. Payments in cash necessarily give rise to suspicions, so please help us,
and yourselves, by not asking us to take cash.
Before undertaking any work for you, or proceeding with a transaction on your behalf we must have satisfactory identification. This is whether you are an existing
client, a new client, or the matter is a one-off transaction. There is now a strict code in place and NO WORK CAN BE CARRIED OUT until satisfactory identification
is produced in its original form to us. It is usual for this to be a current passport, failing which, a driving license having both a photograph and a signature.
We also require a secondary document confirming your address, which can include a current bank or building society statement or current utility bill. We shall
take copies that will be placed on your file. If there is more than one client e.g. Mr and Mrs or Partners we shall require evidence of both or all.
We do mention that cash payments are not the only indicators of money laundering. Changing instructions part way through a transaction, without full explanation,
is just one of a number of others we must consider.
We are governed in this matter by Act of Parliament and therefore are obliged to follow this procedure but we apologise for any inconvenience this may cause. We do
ask for your understanding and co-operation.
Online Filechaser
The headache of moving house or flat could be a thing of the past thanks to a new internet conveyancing facility called 'Online Filechaser' developed by the Sussex
solicitors FitzPatricks.
Buyers and sellers can now visit a secure section of the FitzPatricks' website and see real progress being made. This is a huge stress saving element. One
feature of moving house is that pressure comes from others in chains who say things are not moving fast enough.
With Online Filechaser, movers discover at once where the delays are and can take immediate action rather than leaving things to run on with all the usual frustrations.
Tom FitzPatrick, principal of FitzPatricks said, "Online Filechaser eradicates delays that occur when a client cannot immediately speak to the right person about
their move and it gives the reassurance that matters are dealt with promptly. Moves can be viewed from beginning to end, at the touch of a button, at any time.
Underlying this facility is our own time-saving IT conveyancing program we have been using since 1998 with impressive results".
The client has a password to log into the secure part of the website and can trace the full history of the move right to the current position. This information is
constantly updated as things happen and the most accurate details are always available. A feedback form is included where clients can email questions direct to the
firm.
With the consent of the client, estate agents also benefit from using 'Online Filechaser'. They can even link sale and purchase information and remove the need for
unnecessary duplication of correspondence and repeated telephone calls.
Mr FitzPatrick continued, "This system has been developed to put the needs of clients first. We still value the face-to-face contact that our clients want and this
new system improves this personal approach. Buying and selling properties are not just huge and important financial transactions - they can be some of the most
stressful things a person can experience in a lifetime. Our aim is to reduce this stress as much as possible.
FitzPatricks' conveyancing department is led by Mr Thomas FitzPatrick, who said, "This system is way ahead of its time, client friendly and ready for
e-conveyancing when the government gives the go-ahead".
NOTES TO EDITORS
To sample Online Filechaser, visit our website at www.fitzpatricks-law.co.uk, click Online Filechaser and "give Filechaser a go now".
Tom FitzPatrick was admitted as a solicitor in 1963 and following City experience and a business management training, set up his own practice in Burgess Hill in 1975.
In 1993, he decided that the future of the Law was in computers. First, the firm's practice management was computerised and then case management. Clients were
becoming ever more exacting, regulations affecting solicitors were becoming ever more arduous and, with these growing pressures, it was becoming easier to
make mistakes. While every matter for each client was different, many of the procedures were the same and these became the focus of the firm's programming.
The basic conveyancing program, developed in-house, has been used since 1998 and went online in June 2001, when it was quietly trialled prior to launch. The basic
program has speeded procedures, dramatically improved client contact and been a terrific asset in terms of elimination of errors and therefore risk management. It
is intended that Online will be extended to commercial property and business sales and purchases during 2002 and thereafter to other areas of the practice.
FitzPatricks achieved both the Investors in People and the Law Society's LEXCEL quality standards in 1999. Tom FitzPatrick is a powerful advocate of the benefits
of both standards for clients and practices alike.