Archive

There’s no question that trust is the bedrock of any longstanding client relationship. It is built on delivering on your promises...

Estate agents are among falling numbers of regulated firms that aren’t checking sanctions and politically exposed persons (PEP) lists, research suggests. A...

Leading digital compliance firm SmartSearch has launched an innovative new solution to help professionals working within the UK property sector to...

OnTheMarket Software has announced an integration with digital ID and source of funds provider Thirdfort. The digital ID, anti-money laundering and source...

For most people, buying a house or flat is the largest financial commitment they will ever make. Which is why many...

The Council for Licensed Conveyancers (CLC) has warned it is receiving “too many complaints” about breaches of undertakings by solicitors. The regulator...

Amidst mounting regulatory pressure and the escalating threat of financial crime, property firms must embrace innovation to protect themselves and their...

Recent research estimated that up to £100 billion is being stolen in the UK each year, with much of it due...

The dreaded ‘C word’ – compliance – has been facing Estate Agents for years now and it’s not going anywhere. Looking ahead...

SmartSearch, the UK’s leading provider of digital compliance, has published an agenda-setting whitepaper to highlight the anti-money laundering shortcomings and sanctions...

Thousands of foreign companies with property in the UK have failed to declare their true owners. It comes as new anti-money laundering (AML)...

Sanctions against Russian oligarchs are working but agents and property professionals are being warned against getting complacent when checking international buyer...

Northern Ireland has been named as a potential hotspot for money laundering. New data from anti-money laundering software provider SmartSearch has identified...

There was plenty of upset off the pitch after the Football Association’s last-minute u-turn – in fear of FIFA sanctions -...

The chair of the Council of Licensed Conveyancers (CLC) has warned firms that it shouldn’t be seen as a ‘light-touch’ regulator. Speaking at...

Dozens of estate agents have been fined a combined total of £519,645 for failing to meet their obligations under anti-money laundering...

The Government’s mini budget on September 23 was anything but ‘mini’ with several major announcements one of the most significant of...

If recent headlines are anything to go by, estate agents and the wider property industry are not just feeling the heavy...

Over the last five years, the Government has introduced a range of measures to regulate the property market, particularly in the...

A compliance expert has warned that even though most agents will have robust anti-money laundering (AML) checks and processes in place,...

Property firms are still failing to make basic anti-money laundering checks (AML), and some may even unwittingly be helping politically exposed...

Agents are being given the chance to learn how to improve their anti-money laundering (AML) processes from a veteran police investigator. Rightmove...

Up to 70% of property firms have not changed their approach to onboarding new customers since sanctions were imposed on Russia...

Fewer foreign buyers are purchasing property in the UK, anti-money laundering data suggests. The property market has been hampered in recent years...

Anti-money laundering specialist SmartSearch has reached 1,000 clients in the property industry. It comes amid increased scrutiny of money laundering amid sanctions...

In this latest ‘Women in Property’ edition of the Natter, I check in with Collette Allen, who was recently appointed as...

A ‘frightening’ number of respondents to a Rightmove online poll appear to be unaware of their anti-money laundering reporting requirements. The portal...

It was a quiet first quarter this year for sanctions at The Property Ombudsman (TPO). The redress scheme has revealed that just...

Chancellor Rishi Sunak has announced a dramatic future income tax cut, changes to National Insurance thresholds and scrapping VAT on more...

A Russian billionaire says he no longer owns many of his former properties in the UK, raising question marks over the...

A legal expert has warned that everyone is theoretically at risk of committing a breach of sanctions against Russia - but...

High end estate agency Savills says the imposition of sanctions on Russians, amid new measures obliging overseas buyers to be more...

The UK government appears to have given sanctioned Russian property owners a get-out-of-jail card valid for six months.  It’s been confirmed that...

The Mayor of London is demanding ministers take sanctioning Russian oligarchs seriously by moving immediately to seize assets that can then...

Momentum is building up in support of the government’s probe into whether the London homes of oligarchs on the sanctions list...

The government is considering seizing British property owned by Russian oligarchs on the sanctions list without paying compensation. The Financial Times says Housing...

A new analysis has revealed those areas of England and Wales with the largest numbers of Russian-owned homes. Credas Technologies analysed Land...

Estate agents and other property businesses need to ensure their customer screening processes are robust and up to date following extensive...

Agents are being told by a trade body to conduct more frequent risk reviews and check purchaser identities against up to...

A leading surveyor in London says the likely introduction of a register of overseas property ownership and sanctions making it difficult...

It is claimed by Propertymark that the government’s Economic Crime Bill - to be debated in the House of Commons today -...

London mayor Sadiq Khan says he supports the seizure of property assets connected to the allies of Russian President Vladimir Putin.  The...

The outcome of the Ukraine crisis is far from certain, but one thing has become abundantly clear. The long-overdue Economic Crime...

Share prices of estate agencies and property companies plummeted yesterday as tensions continued to rise following the Russian invasion of Ukraine. Purplebricks...

An estate agency says retrospective investigations into Russian ownership of London properties could lead to substantial amounts of wealth moving out...

It appears that new controls on property ownership may feature in future sanctions against Russia in response to its aggression in Ukraine. Prime...

If the UK and its allies have been played by Russia over the Ukraine ‘invasion’, and it’s beginning to look that...

The UK property industry has long been a target of fraudsters due to the low levels of transparency and the fact...

The Mayor of London, Sadiq Khan, wants the government to put a stop to the capital being used for international money...

The Covid-19 pandemic has had a huge impact on all aspects of our lives, but undoubtedly one major negative side effect...

The phrase ‘time is money’ is particularly pertinent for estate agents. Since the stamp duty holiday ended, the forecast drop in...

Within weeks the focus of the industry will be on the White Paper to be issued on rental reform before Christmas. Let’s...

Regulators are warning the UK’s property, finance and legal sectors to be aware of the possible impacts of the exit from...

The property market was expected to struggle to recover after the first lockdown, but, thanks to the stamp duty holiday and...

The Competititon and Markets Authority says it’s to look into reviews on Google and Amazon, and see whether the online giants...

As estate agencies are covered by Money Laundering Regulations, agents are legally obliged to take customer due diligence measures to limit...

Brexit means that the UK’s anti-money laundering laws are no longer governed by the European Union (EU), but any estate agents...

The Chancellor’s recent announcement that the stamp duty holiday would be extended for another three months was undoubtedly great news for...

The original stamp duty freeze, which started in July 2020, has already helped push house prices to a record high and...

The property market became somewhat fractious during 2020. After receiving a much-needed boost with the promise of stamp duty relief, things...

Estate agencies have been named by HM Revenue & Customs for breaching anti-money laundering regulations. The list of those breaching the rules...

The coronavirus pandemic has somewhat eclipsed Brexit this year – which is no mean feat. Cast your mind back to pre-Covid...

HM Revenue and Customs and the Advertising Standards Authority are working together to cut out misleading marketing by promoters of stamp...

A leading board member of NAEA Propertymark warns a small number of rogue agents continue to flout anti-money laundering regulations - and...

The property market, and therefore, estate agents have been accused of being the 'weak link' in the UK’s money laundering defences. This...

They are the names we hear about often, pushing for this or seeking clarifications on that. They are the representatives of...

A PropTech firm has launched a new facial recognition feature to its existing digital anti-money-laundering platform. Due to the restrictions on travel...

The government has published its response to an MPs’ committee’s comments on overseas buyers of properties in the UK - and...

Maverick Cornish estate agent Chris Wood has quit the industry with a stinging attack on those who have “taken their toll”...

The influential Treasury Select Committee says estate agents should be more closely monitored to ensure they abide by anti-money laundering regulations. In...

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

The dust may have settled on the government’s recent announcement regarding housing and property complaints, but opinion is still split on...

Our latest case study come from a recent news item to have hit the industry and national press. A disgruntled tenant is claiming...

A maverick estate agent pictured wearing a yellow vest has threatened to mount what he calls a “civil protest” if Brexit...

In our previous 2 blogs we have covered the definitions of the Consumer Protection from Unfair Trading Regulations (CPRs) and what the practical...

In 2014 The Properties Misdescriptions Act was repealed and replaced with the Consumer Protection from Unfair Trading Regulations, otherwise known as...

In our previous blog, we looked at the definitions outlined by the CPRs. In our next blog we’ll look at the...

The Advertising Standards Authority has today issued a three-point guidance note for estate agents, including controversial interpretations of what constitutes a...

The Advertising Standards Authority says its compliance team is considering its next steps following the refusal of estate agency PDQ Estates...

The Money Laundering Regulations 2017 require estate agents to risk assess their business relationships and apply an appropriate level of investigation...

An outspoken high-end London estate agent says millionaire foreign buyers purchasing “cheap” properties in the capital represent what he calls “the...

The Money Laundering Regulations 2017 require estate agents to risk assess their business relationships and apply an appropriate level of investigation...

The Money Laundering Regulations 2017 require estate agents to risk assess their business relationships and apply an appropriate level of investigation...

The Treasury Select Committee of MPs has announced an inquiry into ‘economic crime’ - including the possibility that overseas-owned UK homes could be...

UK measures to retaliate against alleged Russian government-sponsored nerve agent attack on former spy Sergei Skripal have excluded any attempt to...

The UK property sector has been a hotbed for financial crime in recent years, with many criminals seeing it as an...

There’s a new warning being issued for estate agents and all other businesses to ensure they are prepared for the General...

The decision by the Competition and Markets Authority (CMA) to fine five estate agents for engaging in a price fixing cartel has...

The Royal Institution of Chartered Surveyors (RICS) is to expel an estate agent for breaking several of its membership rules.  Dion Beard,...

After all the recent Whitehall upheaval we can perhaps get back to business; and first item on the agenda seems to...

A fair amount of scaremongering has been going on when it comes to money laundering checks, with the eye-watering fines issued...

“Estate Agents have been highlighted by the Serious Organised Crime Agency (SOCA) as under reporting relative to their vulnerability to money...

A report from anti-corruption campaign group Transparency International says British estate agents reported only 179 suspicions of money laundering in a...

The National Association of Estate Agents is awaiting a response from the government to its demand for four changes to sale...

The National Association of Estate Agents has teamed up with a campaigning anti-corruption body to call for four major changes to...

The Property Ombudsman and the Competition and Markets Authority have prepared a supplementary guidance note to help agents ensure compliance with the Competition Act.  The...

The National Association of Estate Agents says the agents named in Channel 4‘s From Russia With Cash documentary may have tarnished...