It is; the UK has very strict KYC laws and any institution handling money is quickly on the hook for certain misdeeds by their customers. They need to show dili

It is; the UK has very strict KYC laws and any institution handling money is quickly on the hook for certain misdeeds by their customers. They need to show diligence in monitoring that activity. > You must meet certain day-to-day responsibilities if your business is covered by the Money Laundering Regulations. These include carrying out ‘customer due diligence’ measures to check that your customers are who they say they are, and risk assessing your business. https://www.gov.uk/guidance/money-laundering-regulations-your-responsibilities https://www.gov.uk/guidance/money-laundering-regulations-you... (That entire page, like the rest of gov.uk, is comprehensive and very accessible to read for a layman. If you have any passing interest in the area I recommend giving it a skim.)