We’re updating our records to keep your money safer

Any kind of criminal conduct relating to money, financial services or markets, including any offence involving:

• Fraud or dishonesty
• Misconduct in, or misuse of information relating to a financial market
• Handling the proceeds of crime
• The financing of terrorism.

Financial crime is a serious threat to the financial system, which in turn poses a security risk to our customers. As a responsible building society, we understand that preventing financial crime helps to protect our financial system, our customers and the Cumberland as a whole.

As a responsible member of the financial community, we have detailed Know Your Customer procedures in place to prevent and detect financial crime.

We are responsible for protecting our customers’ accounts from misuse and we take our role very seriously.

Holding your most recent information is key to reducing the risk of fraud and financial crime. It’s also required by The Financial Conduct Authority (FCA).

Having up to date information helps us to understand the daily activity on your account, which in turn helps us to prevent financial crime. We’re sorry to request the information again, but it’s the most reliable way of keeping your finances safe.

We don't have a problem with financial crime, but it’s important that we remain vigilant. Holding up to date information about you and your business is the first and most important step in keeping you and your money safe and secure.

No, we haven’t identified any fraudulent activity on your account. We’re in the process of reviewing our business accounts so we’ve requested this information from all business account customers as part of ongoing financial crime and fraud prevention.

Our specialist team are managing this review as part of our wider financial crime and fraud prevention services.

The UK Finance website provides useful guidance about this: https://business-account-opening-guide.ukfinance.org.uk

• Sole Trader - You run your own business as an individual and are self-employed.
• Partnership - A business owned by two or more people who personally share responsibility, including liability for any losses and sharing profits.
• Limited Company (with an intention of making a profit) - A business that is legally separate from the individuals who run it. The individuals running the company must comply with company law and must be registered with Companies House.
• Charity - An entity managed by trustees who are responsible for acting as custodians of the charity, considering the charity’s best interests and manage it responsibly. A charity needs to be registered with the Charity Commission. A charitable company must also be registered with Companies House.
• Trust - A legal arrangement where funds or assets are held by a third party (the trustee) for the benefit of another party (the beneficiary). The creator of the trust is known as the grantor or settlor.
• Association, Club or Society - A group of individuals (members) united for a common purpose or activity, with a committee to run the organisation. Examples include sports clubs, social clubs, community groups.

Your account is only a Trust account if you hold a Trust Deed, which defines the role and responsibilities of the Trust as well as the names of the Trustees.

Utility bills are considered one of the safest ways to confirm an address, however as online statements can be manipulated we require certified copies of original documents to verify your address.

A passport is one of the simplest and most accessible documents which can be provided to confirm your identity. Please provide a certified copy, not the original.

If you are unable to provide copies of any of the documents which we have listed, please contact us on 01228 585810 Monday to Friday 9am – 5pm to discuss your options.

We need to understand the amount of funds you expect to be paid into and out of your account so that we can protect you and the Cumberland from financial crime and fraud.

Overseas operations are an office, distributor or staff based outside the UK.

We are currently reviewing business accounts, however we will update your personal accounts with the information you provide to ensure they’re up to date.

Please view the table below for details about certification

Some of the individuals listed in the table below may charge a fee to certify documents for you.

These should be posted in an envelope to the following address: Freepost, The Cumberland.

If we don’t receive the information and documents we have requested, we may have to restrict your banking services. We need to ensure that you and other members are fully protected from financial fraud and crime, which is only possible with this information.

We’ll use this information to protect you and the Cumberland from financial crime.

All of the information you provide will be subject to the Cumberland’s data and security standards. Your information will only be used for your protection against financial crime.