Anti-Money-Laundering Policy.

Regulatory background

Property transactions in the UK are subject to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the "MLR 2017"). Rapideal supports compliance with MLR 2017 by:

• Applying customer due diligence (CDD) to all registered users.
• Applying enhanced due diligence (EDD) to high-value or high-risk transactions.
• Maintaining records for the statutory minimum period.
• Reporting suspicious activity to the National Crime Agency (NCA).

Customer due diligence (CDD)

We verify the identity of all sellers and buyers before they can list or bid on a property. Verification includes:

• Government-issued photo ID (passport or driving licence).
• Proof of address (utility bill or bank statement, less than 3 months old).
• For businesses: company registration number, Companies House check, and identification of ultimate beneficial owners.

Enhanced due diligence (EDD)

We apply EDD to:

• Transactions above £100,000 (the high-value threshold).
• Transactions involving politically exposed persons (PEPs).
• Transactions involving parties from high-risk jurisdictions.
• Any transaction that appears unusual or suspicious.

EDD may include source-of-funds verification, source-of-wealth verification, and senior management approval.

Source of funds

For EDD, we may require evidence of the funds used to purchase or refinance the property. Acceptable evidence includes: bank statements, payslips, accountant's letter, sale of previous property, inheritance, gift (with donor evidence), or business accounts.

Suspicious activity reports (SARs)

If we suspect money laundering or terrorist financing, we will file a Suspicious Activity Report (SAR) with the NCA. We are prohibited from tipping off the subject of a SAR. SARs are confidential and handled by our Money Laundering Reporting Officer (MLRO).

Record keeping

We keep CDD records, transaction records, and supporting evidence for at least 5 years after the end of the business relationship, in line with MLR 2017 regulation 40.

Our MLRO

Our Money Laundering Reporting Officer reviews all AML alerts and files SARs where appropriate. The MLRO is a director of Rapideal Ltd.

Reporting concerns

If you have concerns about potential money laundering in connection with a Rapideal transaction, email legal@rapideal.co.uk. You can also contact the NCA directly.

Contact

Questions about this policy: legal@rapideal.co.uk.