From: "tim \(in sweden\)" 
Newsgroups: uk.finance
Subject: Re: MONEY LAUNDERING REGULATIONS 2003
Date: Sat, 25 Mar 2006 11:29:47 +0100


"Ken"  wrote in message 
news:4423c604$0$23293$db0fefd9@news.zen.co.uk...
>
> "Ronald Raygun"  wrote in message 
> news:zpPUf.41204$wl.23024@text.news.blueyonder.co.uk...
>> "Ken"  wrote:
>>
>>> I have noticed this clause on a number of estate agents details and when 
>>> I
>>> recently agreed a price on a house to purchase the agent even though 
>>> they
>>> knew me asked for a copy of diving license or passport as id.
>>
>> PADI or BSAC?
>
> Sorry meant to be driving.
> Had to Google to see where the PADI or BSAC was coming from?

So did I,

And having found out what the initials stand for I still don't know
what he means.

Back to the question.

I think that this is just a CYA rule.  The implementation of the
regs is very strict, not just on compliance but also on being able
to show that you have complied.  The individual in the office,
today, may know you, but if that individual moves on and in 2
years time someone comes and does a compliancy check, the
EA will be toast.

tim