anti money laundering searches on credit report

233 · 11 Apr 2012 at 08:31

just checking my credit report online as you do do and i notice i've got a few searches against me for Anti Money laundering.

all seem to be from my current taxi insurance company at the start of the year before I renewed my policy.

i could almost understand 1 search for this but i've got 6 on my report split between my current and old address. anyone know why they would do this or for what purpose?

robgmun · 11 Apr 2012 at 09:03

Did you have more then £5000 going into any bank account in your name in a 30day period?

233 · 11 Apr 2012 at 09:04

Yes but it's not my bank doing these searches. It the insurance company for my taxi business

Deleted member 77746 · 11 Apr 2012 at 09:06

It's probably ran on all businesses that start up. The 'anti' part gives it away, which means it's automatically done. No need to worry unless you are ofcourse money laundering.

Buchanan0204 · 11 Apr 2012 at 09:07

Noddle by any chance?

I also seen the thread earlier and checked using it. Also noticed a million searches from Aviva insurance. Now I'm not with them and I never have been. So maybe something dodgy going on.

Also doesn't show up on equifax or experian.

robgmun · 11 Apr 2012 at 09:57

Delta12 said:
Yes but it's not my bank doing these searches.

It'll be that then, it'll be automatic because anything over 5k going into a bank account in a single month will be 'red flaged' and checked.

233 · 11 Apr 2012 at 15:16

but as i said its my insurance company doing these searches not my bank, just seems strange.

HummuH1 · 11 Apr 2012 at 16:07

Delta12 said:
but as i said its my insurance company doing these searches not my bank, just seems strange.

As a business, with the latest AML regulations we have to undertake AML precautions for every client who pays us a fee, no matter how small.

I think these regs have applied to larger companies and financial institutions for a longer time. Do the searches coincide with your premium renewal dates? If so, thats it, a trail of "defence" that they have carried out the required searches.

rogan · 11 Apr 2012 at 16:51

i have one of these, checked the date, was when i sold £6000 worth of 'gold' in an online game. woops.

Castiel · 11 Apr 2012 at 17:26

I have a few...it is generally when large movements of money into and out of accounts, or when buying large value items on credit......