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Property Sector Poses Economic Risk From AML Perspective (TC)

A new report released on 8th March 2019 believes that the UK’s anti-money laundering system is fragmented and needs urgently re-ordering.

Rob Hailstone March 11, 2019

Mortgage lenders worried about commonhold insolvency (LSG)

Mortgage lenders are reluctant to lend money to homebuyers in a commonhold set-up over insolvency fears, says the Law Commission, which has been tasked by the government to find ways

Rob Hailstone March 11, 2019

HMRC is turning its sights to smaller agents so put compliance top of your agenda (PIE)

MPs described estate agents as the “weak link” in the anti-money laundering regime, in a new report on economic crime from the Treasury Select Committee which called for HMRC to

Rob Hailstone March 8, 2019

Referral fees backfire on agents and encourage poor conveyancing – claim (EAT)

The head of residential property at a law firm is warning that referral fees can backfire on estate agents who may have lost the support of local conveyancers.

Rob Hailstone March 7, 2019

Countrywide fine ‘shows agents not taking anti-money laundering seriously’ (EAT)

The huge £215,000 fine levied on Countrywide for failing to abide by anti-money laundering procedures is a demonstration that estate agents generally are failing to take the issue seriously.

Rob Hailstone March 6, 2019

MPs want agents views on anti-money laundering after shock HMRC swoop (EAT)

HM Revenue & Customs has issued more details of its bid to encourage estate agents to combat money laundering in the wake of yesterday’s shock announcement about huge fines and

Rob Hailstone March 5, 2019

Referral Fees: “Onus is very much on agents” insists conveyancing chief (EAT)

The director of strategy at the Council for Licensed Conveyancers says “the onus is very much on estate agents” to respond positively to a government initiative to make referral fees

Rob Hailstone March 5, 2019

Unannounced HMRC AML Visits Crack Down On Non-Compliant Estate Agents (TC)

HM Revenue and Customs officers have continued the fight against money laundering in the UK by visiting over 50 agencies suspected of trading without officially registering with HMRC; a clear

Rob Hailstone March 5, 2019

Knocking at your door – HMRC on warpath pays unannounced visits to agents (PIE)

Estate agents have been hit with unannounced inspections as part of a week-long crackdown on money laundering in the property industry, HM Revenue and Customs revealed this morning.

Rob Hailstone March 4, 2019

Countrywide hit with £215,000 fine in HMRC swoop on agents (EAT)

It’s been revealed that Countrywide has been hit with a £215,000 fine as part of a swoop by HMRC cracking down on money laundering in the property sector.

Rob Hailstone March 4, 2019

How can we speed up the buying and selling process?

A working party of NAEA Propertymark is to conduct a pilot of a new Property Information Questionnaire – part of a series of reforms being considered right now.

Rob Hailstone March 4, 2019

Three CLC Law Firms Vulnerable To Email Fraud In Previous Fortnight (TC)

The Council for Licensed Conveyancers have revealed that in the past two weeks, three law firms have been targeted by cyber criminals using a very similar phishing strategy.

Rob Hailstone March 4, 2019