Why is there a higher level of checking required for conveyancing transactions?
Criminals are actively targeting property purchases. H M Land Registry have therefore introduced a new digital identity standard, and these new enhanced levels of checks are required in order for us to discharge our duty to verify the identity of a party to a registrable transaction.
The requirements now involve biometric and cryptographic checking of identity and verification that the individual or individuals signing of behalf of corporations are the owner of the property or otherwise a genuine party to a registrable transaction.
By following these requirements, we are ensuring that we reduce the risk of property fraud.
What does this mean in practice?
H M Land Registry have set out a series of requirements which we must follow and an extract of which is set out below
- Requirement 1: obtain evidence.
We must establish that the person we are representing is who they say they are. We must therefore hold a form of evidence that can be checked by interrogating cryptographic security features within that evidence. The security features must include an electronically held photo of the identity against which biometric facial recognition checks may be made.
- Requirement 2: check the evidence
We are obliged to check that the evidence which you have provided is genuine and to do this we must use an identity check provider to verify that the documentary and cryptographic security features of the evidence are genuine.
- Requirement 3: match the evidence to the identity
We must check that the person presenting the information matches the photo in the evidence provided. We use an identity check provider to capture a ‘liveness check’.
How does the verification process work online at Neale Turk for Conveyancing clients?
We use the Land Registry approved provider Thirdfort for this process. To initiate the identity checks we require further information from you and therefore would be grateful if you would kindly complete the form below. Once completed you will receive a text message to the mobile phone number you provide which will invite you to begin the ID verification process.
Please note that there is a compulsory charge up to £29.88 per person depending on the type of transaction. The link cannot be sent to you until such time as payment on account has been received.
For further information on Thirdfort, please click here for the information sheet
Payment Diversion Fraud
There has been an increased rise in the number of Payment Diversion Frauds and here is a link to the flyer/leaflet issued by Action Fraud.