THE ESSENTIAL GUIDE TO THE MONEY LAUNDERING REGULATIONS FOR ESTATE AGENTS

Estate agents are subject to the law and regulations relating to money laundering in the same way as  the legal, accountancy and other financial professions are accountable.  That means being subject to the same provisions as other professionals, as other professionals, of  the Proceeds of Crime Act 2002 (PoCA), the Terrorism Act 2000 (TA) and the Money Laundering  Regulations 2007 as amended in the 4th EU Money Laundering Directive These Regulations require  the identification of clients and beneficial owners, and monitoring them on an ongoing basis.  This guide (based on HMRC guidance) gives details of what Estate Agency Businesses must do to  minimise the risks of being used or defrauded and how to report suspicious activity. 

Content

  • Money laundering and other financial crime considerations
  • Estate agents and property professionals
  • Responsibilities of senior managers
  • Policies and procedures
  • Appointing the MLRO and Compliance officer
  • Customer due diligence
  • Conducting the mandatory MLR audit and assessment
  • Reporting suspicious activity
  • Record keeping
  • Staff awareness
  • Practical steps you can take
  • Further information

Duration: 3 hours