Search Results for: aml
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Regulation & Law
Almost all property-sourcing agents ‘breach AML rules’ reveals report
A hard-hitting report from trade body NAPSA claims 90% of sourcing businesses are operating illegally with poor training a major cause.
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Products & Services
Who are you? Thirdfort reaches 3,000,000 AML identity verifications
Due diligence platform, Thirdfort, has helped over 1,500 regulated clients to protect themselves against fraud and money laundering.
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Regulation & Law
Recently-changed AML rules will trap many estate agents into breaking law
Any business that has not updated its AML documentation and processes since September is likely to be non-compliant, says COO, John Reynolds.
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Regulation & Law
Minister reveals big changes for estate agency AML supervision
Decision by Treasury minister Lucy Rigby last night means FCA not HMRC will now be doling out fines and worse to estate agents for non compliance.
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Products & Services
Big industry AML tech firm buys identify verification platform
Tim Barnett, CEO of Credas Technologies, says the deal with SmartSearch will empower more businesses to protect themselves.
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Regulation & Law
Controversial ID cards ‘will streamline property transactions’
Propertymark says digital ID cards will help avoid duplication in the property buying and selling process.
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Latest property news
Property inspections streamlined with new partnership
Safe2 has announced a partnership with No Letting Go, provider of property inventory services across the private rented sector.
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Regulation & Law
Treasury tells estate agents ‘be ready for more AML duties’
The Government says estate agents have a crucial role to play as criminals target property transactions.
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Regulation & Law
Estate agents now facing substantial rise in AML fees
HMRC is proposing to raise its annual anti-money laundering fee from £300 to £400 per branch and is blaming increasing supervision costs.
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Latest property news
AML platform reveals major deal to upgrade KYC and sanctions coverage for agents
London Stock Exchange Group (LSEG) has joined existing SmartSearch provider, Dow Jones Watchlist, to deliver comprehensive data coverage, ensuring compliance with Know Your Customer (KYC) and sanctions enforcement regulations for the property industry. The integration of LSEG’s World-Check One solution will enhance existing SmartSearch watchlist screening and functionality by introducing comprehensive adverse media monitoring, advanced ‘fuzzy matching’ for name variations, real-time monitoring capabilities, and access to data from over 100,000 reputable sources across 66 SIP categories. “Businesses in regulated sectors face potentially unlimited fines and even jail time for non-compliance with AML regulation,” said Fraser Mitchell, Chief Product Officer at SmartSearch. “As well as unwittingly becoming a cog in the financial crime machine if a criminal slips through the net – implicating the business in facilitating drug smuggling, human trafficking and even terrorism.” Triple reliability SmartSearch uses global data from Equifax, Experian and Transunion, combined with biometric and AI-driven technology to verify individuals and businesses instantly, determining if they are present on sanctions lists. The platform also then performs real-time screening for anyone who may not be illegal to do business with but who carries greater risk, such as Politically Exposed Persons (PEPs), Special Interest Persons (SIPs) and Relative or…
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