SmartDiligence Help Estate Agents Comply with AML Legislation

At SmartDiligence we are always shocked and alarmed by the number of Estate Agents who think that the Anti-Money Laundering Legislation does not apply to them. We constantly hear things like, “We don’t handle any money” or “The solicitor does it so we don’t have too” how wrong could they be.

The Office of Fair Trading have responsibility for oversight of the Estate Agency sector in the UK, firms are required to register with the OFT. There are still a number of firms that have failed to register, and more Estate Agency firms look likely to receive fines for either failing to register or for not having the appropriate systems and procedures in place.

SmartDiligence can help Estate Agents comply with the Know Your Customer aspects of the Money Laundering Regulations, offering a fast an effective method of verifying clients both corporate and individuals, with full Sanction and Politically Exposed Person Screening and ongoing monitoring.