If you run your own business, you will at some point need to work with other companies in order to grow and prosper. When you have taken many years of hard work to build up your firm you will want to be cautious and careful where finances are concerned and be aware of possible scams and criminals trying to use your business accounts to launder their ill-gotten gains. Getting professional advice and an AML IDENTITY CHECK completed on any new company you might be working with, from a professional firm such as W2 is a very good idea.
Scammers and criminals will resort to all types of devious tricks to try and convince you as a business owner that they are an accredited company to work with. Always check any credentials offered to you by a possible new client, with an independent company and err on the side of caution until you have built up a long-standing business partnership with them. Keeping accurate financial records and having a professional accountant to help you sort out any Tax issues is vital. When you have your own company, having clients and other professionals you can trust is essential.
Check with other companies your potential new client has worked with, look up their business offices on the Companies House list which you can do easily online. You can also find out if they have ever become bankrupt or insolvent and then started another similar company.