Date Published 01 March 2024
Around one in five estate agents are not registered for money laundering supervision, putting themselves at risk of fines and even imprisonment.
As an agency, we transfer huge sums of money daily, so anyone buying property in the UK must comply with the regulations before your transaction can proceed.
Analysis of the HMRC Supervised Business Register found that despite an increase in the number of estate agents that have applied for AML supervision, almost one in five still have not.
The data shows out of 24,500 estate agents in the UK 4,500 of them are trading without being registered with HMRC.
It is a criminal offence to provide estate agency services without being registered with HMRC for AML supervision.
Since we began selling houses, we have been registered with the HMRC and our AML checks have stringently been in place. To some, the government's anti-money laundering legislation might seem extreme, but it is there to protect buyer and sellers against would-be criminal behaviour.
For a professional and qualified approach to selling your home, we protect your greatest asset, as if it were our own.
