UK: Almost one in three estate agents do not know if they have anti-money laundering process in place

29

August 2 2018

Nearly one in three estate agents do not even know if they have an anti-money laundering process in place, and just 16% are confident that they fully understand their legal obligations.

Furthermore, over one in three in a sample of 100 agents have been visited by the AML regulator HMRC, at an average notice of just 3.5 days, but sometimes with just one day’s warning.