Anti Money Laundering Policy
As of the 10th January 2020, the UK government has introduced new anti-money laundering measures which affect all art dealers, galleries and their clients, existing and new.
Oriel Fine Art Limited is required to take all reasonable steps to ensure we comply with Anti Money Laundering procedures in the same way as a bank does when opening new customer accounts. These measures are industry wide including auction houses and individual dealers.
To meet these obligations and before any sale is concluded over €10,000, we are obliged by law to verify the identity of clients buying artwork from us.
We will ask for a copy of a valid photo identity (a passport, driving licence or national ID card) which shows the buyer's full name, date of birth, nationality and permanent residential address.
We will require company details including proof of incorporation, directors and the ultimate beneficial owners.
When acting on behalf of a buyer, we will require you to identify the ultimate buyer in addition to yourself.
Payments to the gallery will need to be received from a bank account held in the same name of the client named on the invoice and match the identity documents given.
Any information you provide us with will be held securely, confidentially and processed in accordance with Global Data Protection Regulations.
Thank you for your understanding and cooperation.