New AML webinar for Rightmove users to focus on ‘reliance’

FCS Compliance has announced the latest in its anti-money laundering (AML) series of webinars with Rightmove. 

The latest is titled The Role of Reliance in Anti-Money Laundering.

It is free to Rightmove members and will be presented by Malcolm Driscoll, lead AML consultant at FCS Compliance, between 10am and 11amon Tuesday 18 October.

Reliance is central to the AML process but often causes confusion. As Driscoll explains, “With more than 40 years’ service in the police in the investigation of serious and complex financial crime, Driscoll has an in-depth knowledge of how criminals seek to launder the proceeds of criminal activity on a global scale and has extensive experience working alongside regulatory bodies, including HMRC and the Financial Conduct Authority.

He said: “Reliance occurs when one property professional relies on another’s customer due diligence (CDD) to meet their own CDD obligations. 

“It’s a frequent occurrence as many agents will recognise, but a far from clearcut process.  In this webinar we aim to provide a straight-talking guide to what’s needed to remain compliant, while seeing through a sale or let.”

The webinar, which will include an opportunity to ask questions, will cover:

• The meaning of Reliance

• The practicalities of Reliance on a day-to-day basis

• Common misunderstandings of what Reliance is

• The consequences of incorrect application

• The role of Reliance in a sub-agency relationship

 Free to Rightmove members, registration for the webinar is through the Rightmove Hub.