The Safe Harbour Standard

HM Land Registry recently announced a new standard for the use of digital due diligence, which they have called Safe Harbour.

Safe Harbour is designed to encourage the use of digital processes when completing due diligence as part of the conveyancing process and to lift the standards and robustness of existing digital due diligence.

Conveyancers who complete their customer due diligence and meet the Safe Harbour standard are effectively indemnified from any further action should it later transpire that the end-user was acting fraudulently.

What are the requirements and how can Credas help?

Requirement 1 ‘Obtain evidence’

You must find out if the person you are representing is who they say they are by using a form of evidence that can be checked by interrogating cryptographic security features.

Security features must include an electronically held photo of the identity against which biometric facial recognition checks may be made e.g.

  • Biometric passports that meet the ICAP specifications for e-passports.
  • Identity cards from an EU or EEA country*
  • UK biometric residence permit.

Requirement 2 ‘Check the evidence’

Check the evidence obtained to ensure it is a genuine document that has not be forged and is in date. This must be done by reading the chip within the evidence using NFC.

Requirement 3 ‘Match the evidence to the identity.’

Check that the person presenting the information matches the photo on the ID document and verify with a ‘liveness check’

Requirement 4 ‘Obtain evidence to ensure the transferor, borrower or lessor is the same person or entity as the owner.’

The conveyancer must connect the individual to the property by obtaining evidence and checking the name and address matches that of the individual claiming the identity match

Are Credas checks Safe Harbour compliant?

Credas already offers users of our service the ability to meet the new Safe Harbour standard, but to make the process simple, smooth and slick, today we are announcing the addition of two new ‘Safe Harbour Journeys’ to our service.

These two new customer journeys will encourage and guide the end-user through the process to ensure they meet the Safe Harbour standard, removing any complexity for both our customer and their client.

Tim Barnett, Chief Commercial Officer at Credas:

“The addition of these two customer journey’s, and further developments we have coming in this area, demonstrate how quickly Credas can react to changes in guidance or legislation. Within days of Safe Harbour being announced, those standards have been incorporated in to our product allowing customers to meet the very highest standards of compliance quickly and easily and without any complications or upgrades – and at absolutely no additional cost. This is a perfect example of how Credas future proofs our customers against changes in regulations, guidance or legislation.”

To find out more about Safe Harbour or to book a Credas demo, please click here.

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