New money laundering regulations are now in play
New anti-money laundering rules have come into force, affecting estate agents, high-end letting agents, solicitor, banks and lenders.
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Opinions sought on new money-laundering rules for high-end letting agents
The EU's Fifth Money Laundering Directive is slated to come into play in January, requiring UK letting agents dealing in rents above €10k per month to carry out AML checks on their clients.
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As "gatekeepers", estate agents play a crucial role in the UK Government's ongoing efforts to stamp out money laundering and terrorism financing.
Select Committee flags five money laundering loopholes
160 properties worth over £4bn have been 'identified as being purchased by high corruption-risk individuals', reports the Joint Committee on the Draft Registration of Overseas Entities Bill
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