Consumer bank account checker: product launch

Print This Post

4 July 2016


Lawyer Checker 200Monday 4 July sees Lawyer Checker launch Consumer Bank Account Checker, a service that further aids conveyancers when remitting funds or receiving funds from their client.

Lawyer Checker already provides checks to combat the dangers of sending funds to a vendor conveyancer and can assist in added due diligence when transmitting funds to or from their own clients. Consumer Bank Account Checker also enhances Anti Money Laundering (AML) processes.

This is achieved by ensuring there is a direct link between the client that the solicitor has conducted an AML check on and the bank account details from which the funds are being received.

Consumer Bank Account Checker is powered by Experian’s unrivalled consumer database and is supported by dedicated UK support staff. You are provided with an instantaneous response to your registered email account when a search is performed.

Highlights of the new Consumer Bank Account Checker product include:

  • Enhanced Due Diligence
    • An added layer of protection is put in place when remitting funds to your client, ensuring you avoid liability and adhere to the SRA’s Code of Conduct.
  • Validate Source of Funds
    • Help combat mortgage fraud and incentive practices with an additional check in validating your clients’ source of funds.
  • Reduce the Risk of Fraud
    • An additional step to a robust risk management procedure.

Cybercrime and property fraud are real concerns within the conveyancing sector. We want to limit liability for the profession and protect the consumer. All firms will have policies in place to protect against these concerns, however criminals are becoming increasingly sophisticated and braver in their attempts to defraud companies.

Gareth Richards, legal director & conveyancing supervisor at Convey Law said:

“Consumer Bank Account Checker provides us with an effective solution to the high-risk task of remitting sale proceeds, and balancing payments to our clients. We are committed to staying ‘one step ahead’ and the additional protection afforded by Consumer Bank Account Checker leaves no stone unturned.”

LinkedIn – Lawyer Checker                              

Twitter @LawyerChecker

http://www.lawyerchecker.co.uk/



Associate News is provided by Legal Futures Associates.
Find out about becoming an Associate



Legal Futures Blog

Be careful you do not leave anything behind: will we see the end of chambers?

Charles Feeny

Experience of practice by digital support suggests that working practices will become much more informal and spontaneous, not requiring support by specific entities or even contractual arrangements. This is likely to be particularly true of the Bar, which is or should be a profession focusing on individuals. The future of the Bar is more likely to resemble a library as seen in Scotland and Ireland – albeit an electronic library – rather than the traditional chambers structure.

January 18th, 2017