Estate agency, Hunters Bingley & Shipley, has received high praise for its anti-money laundering (AML) practices following a rigorous HMRC audit, with auditors saying if the agency rolled out Coadjute’s practices across all elements, they would be ‘gold standard’.

The Bradford-based firm claims that the use of Coadjute’s Assured Compliance service ensured they were well-prepared, receiving support with a multi-layered compliance framework, practical training, and hands-on support.

John Reynolds, COO and Co-founder at Coadjute, said: “HMRC audits are becoming more and more common as the government focuses on stopping illegal activity and in particular, money laundering through property transactions in the UK.

“Without a thorough, clearly documented AML compliance framework aligned with HMRC standards, an agency would risk severe repercussions, including significant financial penalties, reputational harm, and potential criminal proceedings under the Proceeds of Crime Act.”

Easy verification

HMRC auditors praised Hunters Bingley & Shipley’s new compliance approach, noting the ease with which they could verify processes through Coadjute’s digital platform. The clarity, organisation, and accuracy of the agency’s records apparently stood out.

In addition to passing the audit, Hunters Bingley & Shipley has significantly improved its branch’s efficiency by working with Coadjute.

The reduced administrative burden has allowed staff to focus more on client relationships and service quality, which in turn has meant their buyers and sellers have benefited from a faster and smoother transaction process with fewer administrative hurdles.