anti money laundering
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Regulation & Law
Agents urged not to be complacent on AML compliance
SmartSearch boss Martin Cheek says agents using outdated AML practices could be making a costly mistake and putting themselves on the road to financial ruin.
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More estate agencies reporting clients over suspicious activity
Just a tiny fraction of agents are submitting SARs despite HM Treasury and the Home Office saying the sector is at ‘medium’ risk for money laundering.
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BLOG: Automation is transforming the AML processes for estate agents
SmartsSearch’s Fraser Mitchell says estate agents can streamline their AML processes by adopting automation which will save time and resources.
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COMMENT: the naming of Javad Marandi is a milestone for AML
Anti-money laundering expert Simon Luke says press coverage of the Tory donor serves as a stark reminder to dissuade others from similar activities.
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BLOG: Agents can reduce the risk of tenancy fraud using modern ID checks
Anti-money laundering and anti-fraud compliance specialist Harriet Holmes says the continuing cost of living crisis could lead to an increased risk of tenancy fraud.
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Latest property news
New money laundering plan to crack down on illicit finance
The government launches three-year plan setting out what agents and other businesses should do to crack down on dodgy money, kleptocrats, sanctions evasion and fraud.
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WARNING: ‘Half of agents don’t take AML compliance seriously’
Writing for The Neg, Simon Luke says a culture of following the rules can guarantee that agents have the necessary systems to conform to AML.
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Crooks looting up to £100 billion due to AML rules failure
Shortcomings in anti-money laundering rules and loopholes in sanctions are allowing crooks to steal up to £100 billion from the UK every year.
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Latest property news
Watch out, HMRC’s about as estate agency AML fines start to rise
The average Anti-Money Laundering (AML) fine issued to the estate agents for non-compliance has started to climb, reversing the previous downward trend seen throughout the pandemic.
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