Estate agents were fined a total of more than £3m in the nine months to September 2023 for failing to register...
Archive
![Are property firms strengthening financial crime measures with comprehensive business checks?](/upload/images/4%20PROOFED--%20Are%20property%20firms%20strengthening%20financial%20crime%20measures%20with%20comprehensive%20business%20checks%20-%20By%20Martin%20Cheek.jpg)
Regulated firms across all sectors will be well aware of Know Your Customer (KYC) checks and their importance in combatting financial...
13 April 2024
From: Features
![Agents failing to do AML checks on business contacts - warning](/upload/images/Shutterstock-only%20images/Property%20Market/_AML%20_400x310.png)
Regulated firms, particularly estate agents, who take on new business clients are leaving themselves exposed to serious red flags by not...
22 March 2024
From: Breaking News
![Property platform offers agents free AML checks](/upload/images/shutterstock_758357752.jpg)
OneDome is offering free digital know-your-customer (KYC) and anti-money laundering (AML) checks for estate agents using its various home buying services. The...
28 February 2024
From: Breaking News
![More than 3,000 estate agents at risk of fines and prison for failing to register with HMRC for AML supervision](/upload/images/3%20--%20Cameron%20--%20EAT%201%5EJ000%20feature%20Feb%202024%20non%20compliance%20(002)%20by%20Martin%20Cheek.jpg)
Digital compliance specialist SmartSearch can help estate agents comply quickly and efficiently Around one in five estate agents are not registered for...
24 February 2024
From: Features
![Are estate agents too trusting of long-term clients?](/upload/images/3%20shutterstock_1487630333.jpg)
There’s no question that trust is the bedrock of any longstanding client relationship. It is built on delivering on your promises...
03 February 2024
From: Features
![Why property firms should prioritise open banking in 2024](/upload/images/shutterstock_2224707903.jpg)
SmartSearch looks at the importance of incorporating Source of Funds checks into KYC processes It is no secret that the UK property...
29 November 2023
From: Features
![Agency sanction screening drops despite rising geopolitical tensions](/upload/images/Shutterstock-only%20images/Property%20Market/_AML-400x310.png)
Estate agents are among falling numbers of regulated firms that aren’t checking sanctions and politically exposed persons (PEP) lists, research suggests. A...
23 November 2023
From: Breaking News
![SmartSearch launches innovative new solution to help estate agents and conveyancers detect dirty money](/upload/images/3%20Source%20of%20Funds%20Article%20by%20SmartSearch(1).jpg)
Leading digital compliance firm SmartSearch has launched an innovative new solution to help professionals working within the UK property sector to...
30 September 2023
From: Features
![Why a traditional KYC approach is no longer fit for purpose for property firms](/upload/images/Estate%20Agent%20Today%20-%20Why%20a%20traditional%20KYC%20approach%20is%20no%20longer%20fit%20.png)
Amidst mounting regulatory pressure and the escalating threat of financial crime, property firms must embrace innovation to protect themselves and their...
13 May 2023
From: Features
![Agents face a 'perfect storm' for money laundering](/upload/images/Agents%20face%20a%20perfect%20storm%20for%20money%20laundering.png)
Recent research estimated that up to £100 billion is being stolen in the UK each year, with much of it due...
22 April 2023
From: Features
![Agents ‘risking reputation’ by relying on manual AML checks](/upload/images/Shutterstock-only%20images/Property%20Market/_AML%20_400x310.png)
Agents are being warned that they risk financial and reputational costs by continuing to rely on manual methods of identity verification. It...
30 March 2023
From: Breaking News
![Agenda-setting campaign exposes AML loopholes](/upload/images/Shutterstock-only%20images/Property%20Market/_AML-400x310.png)
SmartSearch, the UK’s leading provider of digital compliance, has published an agenda-setting whitepaper to highlight the anti-money laundering shortcomings and sanctions...
25 February 2023
From: Features
![UK Government has vowed to use ‘all the tools’ to expose the ‘criminals and corrupt elites’ using the UK property market to clean their dirty cash](/upload/images/Shutterstock-only%20images/Property%20Market/AML_400x310.png)
AML experts SmartSearch warn estate agents that, with so many firms still hiding behind ‘opaque corporate structures,’ proper due diligence has...
11 February 2023
From: Features
![Agents warned against AML complacency on Russian sanctions](/upload/images/Shutterstock-only%20images/Rental%20Market/HouseInspection_400x310.png)
Sanctions against Russian oligarchs are working but agents and property professionals are being warned against getting complacent when checking international buyer...
06 January 2023
From: Breaking News
![Property Jobs Today - the movers, shakers and people in the news](/upload/images/Site%20logos/PropertyJobsToday-400x310.png)
It has been another busy month for job moves in the estate agency sector. Here are some of the latest moves that...
30 November 2022
From: Breaking News
![Research identifies anti-money laundering hotspots](/upload/images/Shutterstock-only%20images/Rental%20Market/RentalYields-400x310.png)
Northern Ireland has been named as a potential hotspot for money laundering. New data from anti-money laundering software provider SmartSearch has identified...
28 November 2022
From: Breaking News
![Agents must take AML seriously after huge HMRC crackdown](/upload/images/Shutterstock-only%20images/Misc/AML400X310.jpg)
Dozens of estate agents have been fined a combined total of £519,645 for failing to meet their obligations under anti-money laundering...
02 November 2022
From: Features
![Stamp duty cut - much needed boost or short term fix? Either way, estate agents need to prepare for the rush](/upload/images/adv-2021/sponsored-content/Smartsearch/EAT%20-%20October%2022.jpg)
The Government’s mini budget on September 23 was anything but ‘mini’ with several major announcements one of the most significant of...
17 October 2022
From: Sponsored Content
![Going digital is the answer to sector compliancy woes](/upload/images/Shutterstock-only%20images/Misc/martin400x310.jpg)
If recent headlines are anything to go by, estate agents and the wider property industry are not just feeling the heavy...
15 October 2022
From: Features
![Alto unveils agenda for first virtual event](/upload/images/PropTech%20%26%20Online/VirtualMessages-400x310.png)
Zoopla-backed agency software provider Alto has announced the speaker line-up and agenda for its inaugural virtual event. Altogether Live will take place...
12 September 2022
From: Breaking News
![Agents ‘wrongly’ rely on hard copy AML checks](/upload/images/library/Anti-Money-Laundering-4-400x310.jpg)
Agents are ‘wrongly’ relying on hard copies of identity documents to verify people’s identities in anti-money laundering (AML) checks, new research...
31 August 2022
From: Breaking News
![As HMRC reveals almost half of those falling foul of AML regulations are property firms, estate agents are urged to get their compliance in order or face the consequences](/upload/images/Back-link-images/EAT%20-%20August%20Sponsorship%20Image%20360%20x%20280.jpg)
HM Revenue & Customs (HMRC) recently published a list of firms that have received penalty notices for failure to meet their...
17 August 2022
From: Sponsored Content
![Property firms failing to detect criminal 'ghosts'](/upload/images/Housing%20Market%20%26%20Property%20Images/FemaleInvestor3-400x310-min.jpeg)
Property firms are still failing to make basic anti-money laundering checks (AML), and some may even unwittingly be helping politically exposed...
26 July 2022
From: Breaking News
![AML warning: Financial criminals targeting smaller property firms](/upload/images/Miscellaneous/scam%20alert.png)
Anti-money laundering (AML) software provider SmartSearch is warning of a rise in financial crime, particularly targeting smaller property firms. A survey of...
15 July 2022
From: Breaking News
![Property firms failing to adapt AML processes despite Russian sanctions - claim](/upload/images/Housing%20Market%20%26%20Property%20Images/HousingHelp-400x310.jpg)
Up to 70% of property firms have not changed their approach to onboarding new customers since sanctions were imposed on Russia...
28 June 2022
From: Breaking News
![Time is running out for legacy customer checks](/upload/images/Housing%20Market%20%26%20Property%20Images/FemaleInvestor4-400x310-min.jpeg)
As another round of property firms is fined, named and shamed for breaching anti-money laundering rules, it feels like the road...
18 June 2022
From: Features
![AML platform secures 1,000th property client](/upload/images/Miscellaneous/TeamSelection2-400x310-min.jpeg)
Anti-money laundering specialist SmartSearch has reached 1,000 clients in the property industry. It comes amid increased scrutiny of money laundering amid sanctions...
07 June 2022
From: Breaking News
![Property Jobs Today - the movers, shakers and people in the news](/upload/images/Site%20logos/PropertyJobsToday-400x310.png)
House price growth may be slowing but there is still plenty of movement in the property jobs market. Here are some of...
31 May 2022
From: Breaking News
![Property Natter: ‘the only way to bring about change is to be proactive’](/upload/images/Site%20logos/PropertyNatter-2019-400x310.png)
In this latest ‘Women in Property’ edition of the Natter, I check in with Collette Allen, who was recently appointed as...
28 May 2022
From: Features
![Estate Agents warned to ensure screening procedures are up to date as the Government toughens sanctions on Russia](/upload/images/adv-2021/sponsored-content/Smartsearch/Sanctions%20-%20EAT%20sponsored.jpg)
Estate agents and other property businesses need to ensure their customer screening processes are robust and up to date following extensive...
02 March 2022
From: Sponsored Content
![Alto Q&A: New features and integrations agents need to know about](/upload/images/adv-2021/sponsored-content/Zoopla/Alto%20360x280.png)
We know that agents rely heavily on property software solutions to run their agency, particularly to ease the burden of administrative...
01 March 2022
From: Sponsored Content
![Opinion: The property sector should take action now, not wait for the Economic Crime Bill](/upload/images/Politics%20(MPs%2C%20party%20logos%2C%20etc)/ParliamentView-400x310.jpg)
The outcome of the Ukraine crisis is far from certain, but one thing has become abundantly clear. The long-overdue Economic Crime...
26 February 2022
From: Features
![A Lesson for Agents from the Ukraine Crisis](/upload/images/Politics%20(MPs%2C%20party%20logos%2C%20etc)/ParliamentView-400x310.jpg)
If the UK and its allies have been played by Russia over the Ukraine ‘invasion’, and it’s beginning to look that...
19 February 2022
From: Features
![Insight - an estate agents’ guide to AML](/upload/images/Housing%20Market%20%26%20Property%20Images/UK-Cash-20-400x310.jpg)
The UK property industry has long been a target of fraudsters due to the low levels of transparency and the fact...
12 February 2022
From: Features
![Identity theft and fraud - how it happens and how to prevent it](/upload/images/Housing%20Market%20%26%20Property%20Images/Identification-400x310.jpg)
The Covid-19 pandemic has had a huge impact on all aspects of our lives, but undoubtedly one major negative side effect...
11 December 2021
From: Features
![Compliance check list - are you New Year ready?](/upload/images/adv-2021/sponsored-content/Smartsearch/EAT%20-%20December.jpeg)
Compliance check list - are you New Year ready? The start of a new year is a great time for estate agents...
10 December 2021
From: Sponsored Content
![Estate agents urged to assess compliance procedures after sloppy AML checks lead to man’s house being stolen](/upload/images/adv-2021/sponsored-content/Smartsearch/EAT%20-%20Image%20.jpg)
Estate agents are being urged to ensure their compliance procedures are up to scratch after fraudsters stole a man’s identity and...
02 December 2021
From: Sponsored Content
![Agents - time to make the switch to EV](/upload/images/library/PropTech-4-400x310.jpg)
The phrase ‘time is money’ is particularly pertinent for estate agents. Since the stamp duty holiday ended, the forecast drop in...
17 November 2021
From: Features
![Why the UK property market is at the centre of global tax avoidance and financial crime](/upload/images/library/UK-Cash-NEW-400x310.jpg)
The Pandora Papers - the biggest ever leak of offshore data - has revealed that the UK’s property market is being...
30 October 2021
From: Features
![Will online agencies take over, or do we still need face-to-face contact?](/upload/images/library/Millennials-Handshake-400x310.jpg)
Like most industries, estate agency is changing. A general trend to a more hybrid model, accelerated by the pandemic has resulted...
06 October 2021
From: Features
Better AML solutions needed amid warnings of possible impacts of Afghanistan exit on financial crime
![Better AML solutions needed amid warnings of possible impacts of Afghanistan exit on financial crime](/upload/images/adv-2021/sponsored-content/Smartsearch/EAT%20Sponsorship%20image.png)
Regulators are warning the UK’s property, finance and legal sectors to be aware of the possible impacts of the exit from...
09 September 2021
From: Sponsored Content
![Flexible working? Get flexible compliance!](/upload/images/adv-2021/sponsored-content/Smartsearch/Hybrid%20working%20image.png)
Recent research shows that when asked what their ideal working set up would be, most agents said ‘hybrid’* and with proposals...
16 August 2021
From: Sponsored Content
![As buyers race to save, agents should focus on sales, not compliance](/img/default/eat.png)
The property market was expected to struggle to recover after the first lockdown, but, thanks to the stamp duty holiday and...
30 June 2021
From: Features
![Estate agents risk multi-million-pound fines if they don’t keep proper customer records](/img/default/eat.png)
While running customer identification and verification checks is part and parcel of the onboarding process for estate agents, under UK anti...
01 June 2021
From: Sponsored Content
![Leaving the EU does not mean leaving Anti-Money Laundering Laws behind](/img/default/eat.png)
Brexit means that the UK’s anti-money laundering laws are no longer governed by the European Union (EU), but any estate agents...
10 May 2021
From: Sponsored Content
![Stamp duty holiday: could the market be more vulnerable to fraud?](/img/default/eat.png)
The Chancellor’s recent announcement that the stamp duty holiday would be extended for another three months was undoubtedly great news for...
27 March 2021
From: Features
![Stamp Duty – are you ready?](/img/default/eat.png)
The original stamp duty freeze, which started in July 2020, has already helped push house prices to a record high and...
24 March 2021
From: Sponsored Content
![Many firms sceptical of automated anti-money laundering systems](/img/default/eat.png)
Over a fifth of key businesses say they do not trust any element at all of automated anti-money laundering checks and...
06 November 2020
From: Breaking News
![Top tips on how to ensure your AML procedures are up to scratch](/img/default/eat.png)
The property market, and therefore, estate agents have been accused of being the 'weak link' in the UK’s money laundering defences. This...
27 October 2020
From: Legislation & Compliance
![Anti-Money Laundering: FCA criticised over lack of enforcement](/img/default/eat.png)
The Financial Conduct Authority (FCA) has been criticised for its lack of enforcement of anti-money laundering (AML) legislation so far in...
18 September 2020
From: Breaking News
![AML checks for estate agents who don’t have time for compliance](/img/default/eat.png)
The last few months have been tough for the property sector, and the pressure will continue as estate agents across the...
19 August 2020
From: Features
![Facial recognition aid launched to help compliance during virus](/img/default/eat.png)
A PropTech firm has launched a new facial recognition feature to its existing digital anti-money-laundering platform. Due to the restrictions on travel...
06 May 2020
From: Breaking News
![Agents told to act on key change in Anti-Money Laundering law](/img/default/eat.png)
The government introduced the Fifth EU Money Laundering Directive into UK law just before Christmas - and it has a significant implication for...
30 December 2019
From: Breaking News
![Countrywide fine 'shows agents not taking anti-money laundering seriously'](/img/default/eat.png)
The huge £215,000 fine levied on Countrywide for failing to abide by anti-money laundering procedures is a demonstration that estate agents...
06 March 2019
From: Breaking News
![AML compliance – why the smart money is on automation](/img/default/eat.png)
Technology is transforming the way we comply with Anti Money Laundering (AML) regulation. It is providing a consistent approach, reliable outcomes...
05 September 2018
From: Features
![Don’t fall foul of anti-money laundering rules](/img/default/eat.png)
Does your company apply adequate customer due diligence measures when carrying out estate agency work? Does it establish and maintain appropriate policies...
28 July 2018
From: Features
![Proptech: automate anti-money laundering, security chief urges](/img/default/eat.png)
A PropTech company boss says evidence given to MPs confirms the need to improve anti-money laundering processes through greater automation and...