AML checks. (L)

should make sure platforms are fully checked especially directors of said.these fintech companies are dealing with hundreds of millions of pounds of ordinary peoples savings/isa/etc and should at least produce fully audited accounts as part of FCA compliance.i think kuflink are the only platform to do so and it is suprising what comes out and what is really going on behind the scenes. full disclosure and regular updates instead of faff and can kicking until the loans result in losses to nobody else but the lender.

the point of lets do AML checks every 12 months whilst we are doing sod all on the rest of the loanbook and claim an extra few hundred hours on this very important exercise.got to be careful that scammers dont get hold of our funds before the recievers/administrators/platforms etc etc take their cuts.

Just had my email on this AML stuff all of sudden.

Its a pain to do and my withdrawable funds still says zero (I'm in DFL0012 and DFL004 only).

Is there any point in doing this?

I assumed from what I've read that we're not actually going to get anything else back on these loans (having been blatantly ripped off) so just wondering if it is even worth doing?

DFL012 - there is a further small recovered amount held in the client account  plus £1.9m of Lendy 'fees' the allocation of which is subject to the current negotiations between RSM & LAG representative. Looking at the latest LAG FB post on this loan unlikely to be anything more from the security package. Only remaining option would be a PI claim but no visibility on anything.

DFL004 - well there is £6.5m in the pot but if & when lenders will get any of it appears to be in the hands of the Courts. Next official (non) update on the saga due in a month.