Gifted deposit and Donors

Do I need to verify a donor who is gifting a deposit to a Buyer?

Where a purchaser indicates that any part of the purchase price is going to be gifted or donated by another person, it is always best practice to obtain confirmation of this fact and the amount direct from the person that is gifting/donating the money, together with evidence that they hold such an amount.

This person is not the purchaser and so there is no obligation to undertake any customer due diligence checks on their identity.

However, please note that where you suspect that such a situation may involve money laundering there is an obligation to submit a suspicious activity report to the NCA.

Suspicious activity