Propertymark has issued a warning to agents following the fines imposed on three property agencies by HM Revenue & Customs for breaching anti-money laundering regulations.
Nathan Emerson, Propertymark chief executive, says: “Propertymark expects members to operate at high standards, and our compliance and regulation work is an important part of meeting those standards.
“We monitor agents named by HMRC and open a case against them. Those cases involve gathering evidence through investigations as well as the HMRC report. Cases then enter into a disciplinary and tribunal process which will consider the evidence and decide if the imposed fine is sufficient or if more action is deemed appropriate.
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