Lecture Notes: Transaction and Compliance Process

Key Points

• Communication from Checkboard
  • Upon transaction initiation, you will receive both an email and a text from Checkboard.
  • This communication invites you to download their app to complete ID and source of funds verification.
• Action Required
  • Check your emails and text messages for the invitation.
  • If you haven't received the invitation, don't worry. A follow-up (chaser) will resend the links.
  • Complete the ID and source of funds requirements on the app promptly upon receiving it.
• Regulatory Compliance
  • AML (Anti-Money Laundering) checks must be completed within seven days of file opening.
  • Failure to pass AML checks within this timeframe means no further legal work can be conducted on the transaction.
  • The case will be temporarily closed until AML checks are cleared.