ANTI-MONEY LAUNDERING FOR ESTATE AGENTS

THE NEW LAW

From 26 June 2017 new regulations dramatically change the systems your firm must have in place. For example you now must check the identity of buyers as well as sellers, retrain your staff and produce new risk assessment and policy documents.

We provide everything you need.

ONLINE TRAINING

You must “regularly” train your employees to ensure they are aware of the law and risks relating to money laundering and terrorist financing (ML Regulations 2017). We provide lively interactive online training to meet your obligation.

• Training programme for all staff, reflecting the key risks, including mortgage fraud and stamp duty frauds, and explaining the different rules that apply to lettings work
• Online quiz, to check understanding

Suitable both for group and individual training

COMPLIANCE MANUAL

Three estate agents were recently fined £246,000 for neglecting their AML responsibilities.

The new rules require that you can produce your written AML risk assessment and AML policy document on demand. Our precedent documentation is all designed specifically for estate agency firms:

• Checklist of the steps your firm must take to comply with the law
• AML risk assessment template – as required by the new law
• AML policy; again, you MUST be able to produce this on demand
• Client identification & risk assessment form
• Guidance on the difficult issues

Note: we provide the materials in Word form, so you can easily adapt them.

UPDATING

At no extra charge, we will enrol you in the Socrates updating service. We will alert you to changes in money laundering law and practice by e-mail. We will also e-mail you revisions to the written materials as necessary.

PRICING