As Art Market Participants, Forrest & Fraser ensure the necessary steps are taken to comply with all aspects of UK law. Due diligence is an important part of this, protecting ourselves as dealers and you as customers from fraudulent activities.
We must verify the identity of, and conduct appropriate due diligence checks on, all transactions of €10,000 or above. This includes linked transactions of €10,000 or more, irrespective of payment method. To do this we are required to verify your identity with either a copy of your passport or driver's license.
Forrest and Fraser are registered with HMRC's 'Anti Money Laundering' scheme and have a series of measures in place to comply with this.
All our staff have undertaken Anti Money Laundering training and any suspicious activity will be reported to the National Crime Agency.
We have a secure GDPR compliant offline record keeping system, where we hold relevant client information and transaction documentation - proof of ID, copies of invoices, etc.