A customer due diligence training webinar is being held for Rightmove members next week.
This is the third anti-money laundering training webinar hosted by Rightmove and comes hot on the heels of the joint HM Treasury and Home Office Report, National risk assessment of money laundering and terrorist financing.
This saw the property sector’s risk status upgraded from medium to high, and agents from low to medium.
In the report HMRC commented that over 50 per cent of high end agents selling property over £5m are not registered with HMRC, or have failed to renew.
The free webinar - led by FCS Compliance managing director Jerry Walters - is titled ‘Undertaking compliant and effective Customer Due Diligence’ and is at 10.30am on Tuesday January 19.
It will cover key AML risks facing a property professional, different levels of due diligence, and assessing and recording the level of AML risk posed by a customer.
"One of the key aspects of ensuring compliance with the Money Laundering Regulations Act of 2017 is an agent’s ability to carry out effective and compliant Customer Due Diligence and their need to fully understand the business relationship with their customer” explains Walters.
"AML rulings are not just guidance but criminal legislation which carry a high price for those who fail to comply.”
Rightmove agents can register to attend, free of charge, on the Rightmove Hub.