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Government accused of lack of clarity over anti-money laundering rules (EAT)

A technology company is accusing the government of leaving agents and other property professionals with “a lack of clarity” about exactly what new anti-money laundering requirements mean.

Rob Hailstone April 6, 2018

FCA warn of cloned property investment firm (TC)

Legitimate firm, Castlebrook Properties Ltd. has been copied by fraudsters, who have set up a copycat firm under the same name.

Rob Hailstone April 6, 2018

First-ever mortgage with digital signature is lodged at Land Registry (EAT)

The first-ever ‘digital mortgage’ deed has been lodged at HM Land Registry, for a property at Rotherhithe in London.

Rob Hailstone April 5, 2018

Blockchain conveyancer uses AI to put online auctions “beyond manipulation” (LF)

An online property sales platform that uses the blockchain to record property transactions has adopted artificial intelligence (AI) technology in its auction process, in the hope of boosting trust by

Rob Hailstone April 5, 2018

Legal Ombudsman costs jump £1.8m ahead of 20% case increase (LSG)

The Legal Ombudsman’s office says that its spending this year will rise sharply after it admitted underestimating its likely workload.

Rob Hailstone April 5, 2018

Government admits falling behind on Right to Buy replacement pledges (PIE)

The Government has admitted falling short on its commitment to replace council housing units sold under the Right to Buy scheme.

Rob Hailstone April 4, 2018

Estate agents fined average of £12k for AML non-compliance (TC)

Recent research has revealed that 11,842 is the average agency fine for supposed anti-money laundering non-compliance.

Rob Hailstone April 4, 2018

Indemnity insurance reforms “will damage small firms” (LF)

Indemnity insurance reforms put forward by the Solicitors Regulation Authority (SRA) last month will damage the small firms the regulator is trying to help, a specialist law firm has warned.

Rob Hailstone April 4, 2018

MPs to probe foreign-owned property as part of ‘economic crime’ inquiry (EAT)

The Treasury Select Committee of MPs has announced an inquiry into ‘economic crime’ – including the possibility that overseas-owned UK homes could be used as shields for money laundering.

Rob Hailstone April 3, 2018

Daily Mail asks whether ‘meteoric rise’ of Purplebricks is built on dodgy foundations (PIE)

A major article on Purplebricks at the weekend in the Daily Mail said that its “meteoric rise” could be running out of steam.

Rob Hailstone April 3, 2018

Hacked law firm says client and staff details spread on Twitter (LSG)

Hackers have infiltrated the IT system of a national firm to harvest data before attempting to spread data through social media.

Rob Hailstone April 3, 2018

Will The Conveyancing Industry Ever Be Free From Fraud?

The conveyancing process is an attractive area for fraudsters due to the typically high value of the property involved.

Rob Hailstone April 2, 2018