Service Activation & Ongoing Compliance
✅ Service Activation & Ongoing Compliance
Your Hoxton Mix service can only be activated once all verification checks are complete.
This ensures full compliance with the UK Money Laundering Regulations 2017 (as amended) and our own internal AML policy.
Before Activation
Requirement | Description |
|---|---|
Identity Verification | All relevant individuals (UBOs/PSCs and authorised representatives) must have their ID verified via Veriff. |
Address Verification | Proof of residential address must be verified for each UBO/PSC. |
Business Information | We must hold accurate company details and structure information (directors, ownership, incorporation details). |
Sanctions & PEP Screening | All individuals and entities must pass sanctions and watchlist checks. |
⚠️ Until all checks are complete, your virtual office or registered address service remains inactive.
Activation
Once verification is successfully completed:
Step | What Happens | Timeframe |
|---|---|---|
1 | You receive an email confirming that your documents have been approved. | Usually within minutes of approval. |
2 | Your account and address services are activated. | Activation confirmed via email. |
3 | Mail services and notifications begin as per your chosen plan. | Immediately upon activation. |
📬 Any mail received before activation will be securely held or returned to sender under AML policy.
During Your Service
We’re legally required to keep customer information up to date and monitor ongoing activity to identify any unusual patterns or changes.
Area | What We Do | Frequency |
|---|---|---|
Ongoing Monitoring | Re-run sanctions, PEP and AML screening. | Continuous, automated. |
Periodic CDD Review | Request updated ID or address documents if your details or risk level change. | Risk-based, typically every 1–3 years. |
Change of Ownership | If your company changes UBOs, PSCs, or directors, we’ll request updated documentation. | Immediately upon change. |
Mail & Account Use | Review for potential misuse, false trading, or non-compliance indicators. | Continuous. |
🔍 Our compliance team performs these checks under a risk-based approach, as defined by HMRC and FATF standards.
If Verification Cannot Be Completed
If we’re unable to verify your identity or address, or if a sanctions or PEP alert cannot be cleared:
- We may suspend or decline activation of your account.
- Any mail received during this period will be held securely until the issue is resolved.
- Where required by law, we may file a Suspicious Activity Report (SAR) with the National Crime Agency (NCA).
Record Keeping
We maintain secure records of all verification data, screening outcomes, and correspondence for at least five years after the end of your relationship with us.
These records are held in line with the UK Data Protection Act 2018 and UK GDPR.
🗂️ Records are stored securely and may only be accessed by authorised compliance personnel.
Next: → Ultimate Beneficial Owner (UBO) Examples
Updated on: 05/11/2025