Lazy agents warned that they cannot outsource money laundering and due diligence obligations


MARCH 13, 2018

A lawyer has warned that estate agents trying to offload their anti-money laundering responsibilities via outsourcing to a third party will not succeed.

Arthur Robinson, director at north-east law firm Emmersons, said: “Recently my firm received a request from an estate agent in relation to confirmation on how we carried out customer due diligence and AML checks, and asking to rely upon our processes.

“I declined the offer to act as their risk managers.