anti money laundering
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Regulation & Law
BLOG: Agents must review AML policies as HMRC cracks down
The Guild’s Paul Offley urges business owners to check their anti-money laundering (AML) supervision status shows ‘supervised’ or ‘pending and able to trade’ or face the wrath of HMRC.
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Regulation & Law
HMRC to name and shame agents fined for AML breaches
Last month HMRC issued over £1.6 million in fines to over 254 estate agents for failing to register or re-register with them for AML supervision with fines ranging from £1,500 to over £50,000.
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Latest property news
AML firm used by 1,000 agencies bought by private equity firm
The digital compliance company was founded in 2011 by Martin Cheek and John Dobson and has grown rapidly from start-up to scale-up.
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Features
‘Don’t take chances on AML checks – the risks are real’
Richard Reed speaks to experts about the complacency around AML checks among agents amid increasing property fraud.
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Latest property news
BLOG: How to combat dirty money in the UK property market
Armalytix's Mike Ward says the property market remains a hotbed for dirty money but technology can help strengthen compliance.
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Latest property news
Just three in 10 estate agents are switched on to open banking for AML reasons
SmartSearch tech boss Fraser Mitchell says three quarters of firms have yet to start verifying the sources of their clients’ funds using open banking.
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Latest property news
BLOG: Student money mules are on the rise and agents should be scared
SmartSearch Chief Guy Harrison says money mule recruiters may try to befriend students, who often think they’re doing a favour for a friend.
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Regulation & Law
Why the property industry shouldn’t be fine with fines
First AML’s Simon Luke argues a a truly robust anti-money laundering regime requires all parties pulling their weight and adhering to regulations.
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Latest property news
Londoners most likely to rely on inheritances to buy property
Thirdfort boss Olly Thornton-Berry says one in four homebuyers in the UK rely on the ‘bank of Mum and Dad’ when it comes to buying property.
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Latest property news
Estate agents slacking when it comes to AML sanctions screening
SmartSearch's Collette Allen says new sanctions could swiftly convert low-risk, longstanding UK clients into high-risk entities overnight.
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