10th Jul 2013 OFT fines Leeds-based estate agent Share The OFT has fined Leeds-based Oliver James Estates and Land Agents Limited £2,000 for failing to register with the OFT.All estate agents and some credit lending businesses need to register with the OFT as part of their responsibilities under the Money Laundering Regulations 2007.Despite the OFT repeatedly contacting and advising Oliver James between November 2011 and February 2012 of the need to register, the business failed to do so.Kate Pitt, OFT Deputy Director of Anti-Money Laundering, said: 'We will not hesitate to take action against any Estate Agents and Lenders that fail to register with the OFT.'Read More by SmartDiligence See more articles by SmartDiligence Share post See our other popular articles 18th Apr 2024 Fighting FinCrime in financial services: optimising the balance between innovation and compliance by SmartDiligence 14th Feb 2023 ‘Failure to prevent’ fraud, false accounting or money laundering could soon be a punishable offence by SmartDiligence 2nd Feb 2023 SmartDiligence COO named Technology Businesswoman of the Year at national award by SmartDiligence See more
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