Letter from Felicitas Letter from Felicitas
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  1. #1

    Still gathering requirements...


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    Default Letter from Felicitas


    As a regulated business on the Isle of Man, we are licensed by the Office of Fair Trading and registered with the Isle of Man Financial Services Authority (“IOMFSA”) as a “Designated Business” under the Island’s Designated Businesses (Registration and Oversight) Act 2015.

    The oversight carried out by the IOMFSA on Designated Businesses is to ensure that proper processes and procedures are in place to counter money laundering and the financing of terrorist activities. The IOMFSA has advised us that it considers debtors of loans made by other parties where we have subsequently acquired creditor rights to be our “customers” for the purposes of the Isle of Man’s Anti-Money Laundering and Countering the Financing of Terrorism Code 2019 (“the Code”). You are one of those debtors. While we understand that the IOMFSA does not, at this stage, have legal advice supporting its interpretation of the Code in this respect, and the IOMFSA’s current published AML/CFT guidelines to lending businesses are silent on the point, we have a responsibility to uphold the IOMFSA’s interpretation of the Code in the operation of our business.

    What does this mean?

    The Code requires businesses like ours to take steps to identify parties considered by the IOMFSA to be our “customers” – a process known as “customer due diligence” or “CDD” for short. CDD involves obtaining, documenting, and using a broad range of information relating to a customer relationship or an occasional transaction. Certain elements of this information must also be verified. The term CDD also incorporates the ongoing monitoring of the business relationship between us and customers.


    What do we require from you?

    We require the following documentation from you within 30 days of this letter: 1. one form of Photo ID (passport, national ID card or driving license) which has been certified*. Documents which are not certified cannot be accepted. 2. one recent (dated within the last 3 months) document showing proof of your normal residential address. This too must be certified* and in your name. The following are acceptable forms of proof of address: a) A recent gas, electricity, landline telephone or council tax bill (not a mobile telephone bill), or b) A letter from a government department, or c) A bank / building society or credit card statement, or d) A letter from a hospital or Doctor. * Certification requirements. Your certifier must be one of the following: a) A solicitor, barrister or notary public; or b) A qualified member of one of the following accountancy professional bodies, namely ICAEW, ICAS, ACCA, CIMA, CIPFA.

    What happens next?

    Please send your certified documents to us by post at the above address within the next 30 days. We may need to contact you to request further information in order to satisfy our obligations under the Code but in the first instance it is important that you provide the documents requested in this letter. Thank you for your cooperation.
    I appreciate that simply ignoring it won't make it go away but why would anyone go to that trouble to send them the information they're requesting?

  2. #2

    Still gathering requirements...


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    Quote Originally Posted by Doggysoft View Post
    I appreciate that simply ignoring it won't make it go away but why would anyone go to that trouble to send them the information they're requesting?
    Have you engaged WTT? I believe they're acting on behalf of a number of people related to this matter.

  3. #3

    Contractor Among Contractors

    DealorNoDeal's Avatar
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    ... Thank you for your cooperation.
    Seriously, when they're trying to screw people.
    Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

  4. #4

    More time posting than coding

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    I would want to firstly be satisfied that Felicitas as a legitimate connection to me.

  5. #5

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    Quote Originally Posted by piebaps View Post
    I would want to firstly be satisfied that Felicitas as a legitimate connection to me.
    Agreed. However, for those out of work with limited disposable income, engaging a professional body to confirm the veracity of Felicitas' demands could be easier said than done.

    I contacted one specialist tax company and was given a four figure cost estimate for initial representation. Whether this fee is par for the course, I don't know, and will continue to make enquiries.

    Either way, if an individual didn't have the funds to pay for representation, it simply adds to the worry and uncertainty.

  6. #6

    bored now

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    Quote Originally Posted by piebaps View Post
    I would want to firstly be satisfied that Felicitas as a legitimate connection to me.
    Nope you want to make sure Felicitas has a legitimate connection to a debt and then that that debt actually is connected to you. There are probably whole piles of legal paperwork that need to be correct and probably aren't. That letter does neither of those things and I suspect they could be stumped without the CDD details.

    Now you do need legal advice and the only suitable people are probably WTT or ETC - so I would find out which one can help you here as it's likely to get blooming complex as this is an issue with IoM law not English or Scottish law.
    merely at clientco for the entertainment

  7. #7

    Contractor Among Contractors


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    If you don't consider yourself to be a debtor of Felicitas, then you won't fall under their definition of a "Customer" of theirs. In such a case, why would/should you go to all that trouble, especially since it can cost £s to get things certified. But, always check what your professional advisor of choice says.
    Last edited by Paralytic; 17th September 2020 at 14:35.

  8. #8

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    I m just going to wait for the court to contact me. Will have a chat with the judge

  9. #9

    bored now

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    Quote Originally Posted by cwah View Post
    I m just going to wait for the court to contact me. Will have a chat with the judge
    That might not be so easy in the IoM (I don't know but worth warning you).
    merely at clientco for the entertainment

  10. #10

    Should post faster


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    Latest guidance from EtcTax regarding the letter demanding proof of identity

    Felicitas Demanding Proof of Your ID and Address – Do you need to respond? - ETC Tax

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