Big rise in agents contacted by HMRC over anti-money laundering

FCS Compliance has announced its latest anti-money laundering webinar tailored exclusively for Rightmove members.  

Are you ready for an HMRC inspection is the sixth webinar that FCS Compliance has designed for Rightmove over the last 12 months, in a partnership that has seen over 1,000 Rightmove agents brought up to speed on AML matters impacting the property sector. 

The course seeks to address the concerns of agents who are increasingly being contacted by HMRC. 

FCS Compliance calculate that the number of clients reporting HMRC contact regarding AML is 43 per cent higher this year compared to the two previous years combined.

Malcolm Driscoll, lead AML consultant at FCS Compliance and the presenter of the course, comments: “The publication of the Pandora papers has been a stark wake up call to anyone working in property.  Against this backdrop, HMRC continue to make their inspections – often at short notice - of businesses they consider most at risk from criminal activity.”

The hour-long course, which takes place at 10.00 am on December 1, is free to Rightmove members and is designed to ensure that businesses are fully prepared, should HMRC come knocking. 

The course will cover What to expect from an HMRC inspection; How to ensure a business is fully AML compliant; Identifying measures to protect a business from money launderers; and Outlining the penalties for non-compliance.

It will also provide the opportunity for attendees to put questions directly to Driscoll, who has over 40 years’ experience of working in financial fraud and crime enforcement.  

During his career he has worked for the Hertfordshire Constabulary, the City of London and British Transport police and was a detective in the Criminal Investigation Department.