article banner

Client Due Diligence (CDD)

How we use your personal data

Any personal data received by Grant Thornton UK LLP in relation to conducting client due diligence under the UK Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended) (“the Money Laundering Regulations”) will only be processed for the purposes of:

  • Preventing money laundering or terrorist financing or:
  • Where it is permitted by Law
  • Where we have obtained your consent for the proposed use of data

Grant Thornton UK LLP are subject to the requirements of the UK Money Laundering Regulations, this requires the firm to identify and verify information relating to its clients, and individuals who are connected (by way of ownership or control) to the client (“client information”). The Money Laundering Regulations also require us, on a risk-based approach, to undertake additional enquiries about clients, or connected individuals. This may include collecting information and documentation to understand and verify source of wealth or funds, business background, and other information relevant to our risk assessment. If we are unable to comply with these obligations, by law we will be unable to engage, or must cease our engagement.

We will perform searches of client information against third party risk databases as part of our client due diligence process to identify adverse media, politically exposed persons and sanctions.

We will retain client Information for at least six years following the termination of our engagement however we may retain it for longer if required to do so by a relevant authority.

Who we share data with

In addition to the parties listed in the main privacy notice we may also share your personal data with suitable external providers (who must have equivalent data protection requirements to our own) in order to verify the identity of individuals through the use of electronic databases, including credit reference agencies. This may be done on a periodic basis in line with our legal obligations to keep due diligence information up to date.  When the electronic verification takes place this will leave a digital footprint on the individual’s credit file, though this has no impact on their credit file.