anti money laundering
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Regulation & Law
Letting agents risk big fines by failing simple CMP rules
Random checks on 200 agency websites found that 62% were not displaying CMP certificates and could fall foul of Trading Standards.
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Latest property news
1 in 5 Source of Funds verifications remains bank of mum and dad
Thirdfort has identified five key Source of Funds trends, with parents still forking out to help children with property deposits.
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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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