AML
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Regulation & Law
Agents fail to use new electronic AML checks
More than two thirds of agents have not updated their anti-money laundering measures after sanctions were imposed on Russia.
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Latest property news
AML checks attributed to foreign buyers hits all-time low
Data from the anti-money laundering checks provider had previously revealed that these checks had hit a record high during the first quarter of this year.
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Latest property news
‘Technology, not just more regulation, is answer to winning AML war’ – claim
Comments are made by AML firm Thirdfort, which says plans to burden agents with more regulations miss the opportunity to allow tech to help.
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Latest property news
Service launched to help estate agents spot Russian or Belarusian sanctioned clients
SmartSearch says more and more agents are now keen to check if their client list contains one of the 1,000+ people on the sanctions list.
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Latest property news
New law forces foreign companies to reveal ‘beneficial owner’ of properties
Economic Crime act enables officials to halt sales, force foreign entities to register its beneficial owner and fine or imprison rule breakers.
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Latest property news
AML latest: 25% of estate agents have failed to register with HMRC
Some five years after AML rules came in, thousands of agencies are now committing a criminal offence by not being registered, it is claimed.
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Latest property news
Guest blog: ‘Only tech can help agents stop people like Reverend Mike Hall losing their home’
Agents, conveyancers and other people within property sales process need powerful tech to battle online property fraud scammers, says AML expert.
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Latest property news
OPINION: If ministers want agents to help with AML, government needs to act
The industry needs the government to standardise and direct tech usage if agents are to willingly help realise its AML enforcement aims.
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Latest property news
Law Society criticises AML regulation for being ‘tick box exercise’
Comments by solicitors' trade body follow the end of HM Treasury's consultation on reforming anti-money laundering rules in UK.
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Latest property news
Prime Minister reveals new cash to clamp down on money laundering
Agents can expect greater scrutiny of their AML compliance after Johnson promised new cash for the National Crime Agency.
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