Estate Agents

Estate Agents Hit With £1.6m AML Fines

More than 250 estate agency firms have been fined in excess of £1.6m for anti-money laundering (AML) breaches, according to a report by online membership organisation Propertymark. HMRC has imposed the fines for a variety of non-compliance issues, including failure to register their business, missing documentation, incomplete due diligence, and failure to recognise specific risks, such as Politically Exposed Persons, high-risk jurisdictions, companies, trusts and sanctions. Financial penalties handed to firms range from £1,500 to… Read More »Estate Agents Hit With £1.6m AML Fines