Why does Aviva need ID proof now?

J.A.S. writes: Six years ago I invested through Aviva in the Asia Pacific Property Fund and the European Property Fund. Recently the funds were closed and as properties were sold, money was returned to investors. I was asked for proof of identity, but Aviva would not accept a copy of my passport as it was not certified and I was not prepared to pay a solicitor. Dividends have been paid without a problem, so why can Aviva not pay the capital proceeds? FINANCIAL institutions are so wary of breaching antimoney laundering rules that it sometimes seems they are determined to prevent customers from getting hold of their own money.

You have lived at the same address for 66 years and Aviva did accept the validity of your bank account. But when you supplied a copy of your passport, you were told it had to be certified by someone such as a lawyer, accountant, or financial adviser. You have none of these and were understandably unhappy at having to pay for a stranger to say that you are who you say you are.

The reason for all this is that you did not in fact originally invest through Aviva. You invested with a different company whose funds were later taken over by Aviva, which did not inherit the earlier firm’s records. Under anti-money laundering regulations, Aviva has to verify again the details of all investors, including you.

But Aviva says it will accept alternative proof that does not need certification. For example, tax documents from Revenue & Customs, your local council tax bill and even an electricity or gas bill will all be accepted.

Do not let irritation at the rules stand between you and your money.