Following new guidance published by the Joint Money Laundering Steering Group (JMLSG) and accepted by the Treasury, engineers will now be accepted as certifiers of documentary evidence for bank customers.
Until now engineers have not been among those that the banking community would accept as certifiers of customer identity - as might be required to open a bank account or take out a loan. This change is thanks to the efforts of the Engineering Council UK.Last year, ECUK was one of various organisations that were invited to comment on proposed new guidance. Part of the guidance is concerned with mitigating the risk of impersonation when business is not carried out face-to-face. Within this section reference is made to copy documents, submitted as proof of identity, being certified by an 'appropriate person'. However, in the circulated draft there was no explanation as to who should be deemed 'appropriate'. The Engineering Council pressed for a definition of this term - and, most importantly, one that would include engineers.All firms should be implementing the new guidance by the end of August 06. This will hopefully bring to an end the banking world's puzzling refusal to recognise the probity and status of the registered engineer.The JMLSG guidance notes can be found at: http://www.jmlsg.org.ukRelated links:Today's top stories