AML for corporates/companies - SIPP contributions from an employer
Very interested to hear your thoughts on money laundering a corporation/employer, when they have agreed to pay/divert pension contributions from an employees company pension into a SIPP we run.
I've seen varying levels of detail for money laundering companies in this manner:
- Full AML on every director - online checks, or passports/driving licence/bank statements
- Details of shareholders with interest over 25%
- Company headed paper
Clearly, for large corporations money laundering every director is completely prohibitive.
What's the thoughts on here of best practice and how do you all look to work around this?