Home AML Sanctions and Fines UK: Countrywide fined in probe over anti-money laundering procedures

UK: Countrywide fined in probe over anti-money laundering procedures

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Troubled UK estate agent Countywide has been fined £215,000 as part of a week-long crackdown by the UK tax authority on money laundering in the property sector.

HM Revenue & Customs said in a statement on Monday that Countrywide had failed to comply with money laundering prevention rulesMRC said Countrywide had failed to conduct adequate due diligence and said it had breached rules concerning “proper record keeping”.