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Anti-money laundering: Agents' network running consultation survey

The Independent Network of Estate Agents is running a survey to collate agents' responses ahead of the closure of the official Treasury consultation into the government's latest anti-money laundering proposals. 

The government's proposals include letting agents, for the first time, having anti-money laundering responsibilities and the consultation seeks views on whether both landlords and tenants should be checked by the agents ahead of tenancies being issued.

Membership bodies for sales and letting agents would be responsible for supervising members under the proposals.

Meanwhile the Treasury document also suggests that in most cases sub-agents acting on behalf of the main agent in a transaction cannot rely on the due diligence conducted by the latter - so in other words, must conduct their own due diligence. 

Those wishing to respond directly to the Treasury can do so here but  there is an interesting INEA survey with questions to allow a more structured answer available here.

The INEA survey deadline is 5pm on Tuesday November 8.

  • Trevor Mealham

    Thanks EAT. Its important agents get a response in that best helps their agency models and the way they work.

    Otherwise government may go either way on some Money Laundering issues which may increase agents running costs and responsibilities.

    Agents may also feel that private landlords should come under same regulations which may encourage more work back to agents from private landlords.

    We have created a 5-10 minute survey with 12 questions based on the 80+ page consultation: http://www.inea.co.uk/a/INEA-SURVEY-ON-ANTI-MONEY-LAUNDERING to help agents have a collective voice


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