The use of corporate entities such as companies and trusts have been shown to the favoured modus operandi of criminals seeking to launder criminal proceeds in the housing market, whether in Central London or any other part of the UK. Latest estimates put the amount of “dirty money” held in the UK housing market in excess of £5 billion, and the use of complex corporate structures has been central to this.
This webinar will explain the legal obligations placed upon a property professional when forming a “business relationship” with a corporate entity, and will detail the practical steps required to clearly identify the Ultimate Beneficial Owner of a company or trust, thereby ensuring compliance with the Money Laundering Regulations 2017.
The five learning points will be:
How companies and trusts are used for money laundering in the housing market
The difference between a company and a trust when it comes to CDD
The essential documents required for Customer Due Diligence
How to identify who the beneficial owner is
The major pitfalls when it comes to dealing with corporate entities
This session will be led by Jerry Walters, Founder of FCS Compliance, who has over 25 years of experience within financial crime in law enforcement and the private sector. He has investigated and lead the prosecution of countless serious and complex fraud and money laundering cases, and his expertise as a specialist AML trainer and practitioner is well-recognised by leading organisations and industry associations across the UK.
We’ll be sharing your comments with Jerry and asking him to answer your questions live throughout the broadcast. Got a question? Bring it with you ready to type in and ask live.