In the UK for example; most if not all of the financial services firms with whom you deal will need to be compliant with, inter alia, Proceeds of Crime Act 2002, Terrorism Act 2000 and Money Laundering Regulations 2007.
Access when your e.g. bank, building society, solicitors, accountants, pension manager, mutual fund manager, life insurer, estate agent, etc. request information for identification and AML purposes (Customer Due Diligence) you can authorise them to access and download the required information. Access to your information can only be made by those to whom you provide an express, time-restricted authorisation code.
Verification Systems was set up by REG (UK) Ltd (’REG’) in order to address the significant and repetitive efforts that customers/consumers undergo to meet Customer Due Diligence/Know Your Customer requirements by financial service providers and others who must comply with Anti Money Laundering and Anti-Terrorist legislation and regulations.