Updated anti-money laundering guidance for letting agents
The government update guidance for letting agents on their anti-money laundering obligations, including risk assessments and customer due diligence checks.
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The government update guidance for letting agents on their anti-money laundering obligations, including risk assessments and customer due diligence checks.
How can you use a risk-based approach to carry out money laundering risk assessments at your agency? Here's a free, downloadable guide.
A new levy has now come into play, for agency businesses with a UK revenue over £10.2 million, and undesignated client accounts are causing banking confusion.
Instances of money laundering and fraud are on the up, as explained by Adrian Gill, non-executive director of Reapit.
Customer due diligence means not only verifying that your customers are who they say they are, but also having an understanding of the purpose and intended nature of their relationship with your business.
Businesses that are regulated by money laundering legislation need to carry out a risk assessment, to identify where they could be at risk of being used for money laundering. Use our free template as the basis for your agency's risk assessment.
The EU's Fifth Money Laundering Directive is just months away from becoming law and letting agents who process rental payments of €10,000 or more a month will need to start preparing to ensure their processes are compliant.