For business reasons – and to comply with relevant regulations – we verify the identity of all our potential customers before accepting money and making investments on your behalf. We pass some pieces of information, such as your name, date of birth and address, through a widely used third-party service, which cross-references the data against various international databases.
This allows us to process new clients efficiently, and to ensure that we eliminate fraudulent applications or those that pose a risk of money laundering.
We may occasionally ask for additional information, such as a picture of your driving licence or passport. The most likely reason for this is because we could not verify your identity on the basis of the initial information we collected. This can happen if you don’t have a large credit history, or if you’re not listed on an electoral roll.
Although we cross-reference your personal information against databases which include credit reference data, the search does not have any impact on your credit rating.