The UK has imposed sanctions on 22 people accused of serious corruption in Russia, South Africa and four other nations in the first use of a new tool to fight corrupt activities globally.
Since large sums of money can be laundered in a single transaction, criminals like to use the buying and selling of properties to clean their illegally acquired funds making real estate agencies and property firms vulnerable targets in the process....
Lettings agents have been reminded that they may now need to register with HMRC for anti-money laundering (AML) supervision after a delayed IT system went live.
The traditional high-risk areas of money laundering remain, including financial services, money service businesses, and cash. However, new methods continue to emerge, according to HM Treasury’s 2020 national risk assessment (NRA), the third assessment of money laundering and terrorist financing...
The latest report from HMRC on businesses who have received a fine in the period from 1/2/2020 – 20/09/2020 shows the highest enforcement issued was £23.8m to a firm for failure to have controls, policies and processes, customer due diligence...
HMRC officers visited 50 estate agents across England after they were suspected of trading without being registered as required under money laundering regulations.
PropertyVine has entered the cryptocurrency market, announcing that vendors and landlords will now be able to pay for its service using Bitcoin and other virtual currencies.