Stay Ahead of HMRC’s Money Laundering Crackdown

The UK property market remains at a high risk of being used for laundering ‘dirty money’. So with HMRC ramping up ‘on-site’ inspections at agents’ offices, are you fully up-to-speed with your (Money Laundering Reporting Officer) MLRO duties and prepared for any potential scrutiny of your AML compliance?

In 2023 Estate Agents dominated the list of businesses not complying with the Money Laundering Regulations, receiving a total of £3.2M in fines. In many cases these could have been avoidable financial penalties and damage to their reputation.

We heard from one of UK’s leading property experts, Malcolm Driscoll, of FCS Compliance and had your MLRO questions answered plus gained insight into:

• The Roles and Responsibilities of the MLRO/Deputy MLRO/Nominated Officer
• An update on recent and initial ‘key’ findings of HMRC inspections
• The latest observations from the front line and what you should be aware of

Click the below handout button for your exclusive written summary of the Q&A – Ideal for rapid sharing of knowledge 

About Malcolm Driscoll: 

Malcolm is the Lead AML Consultant at FCS Compliance and, having spent over 40 years in the police investigating countless complex fraud and money laundering cases, has an in-depth knowledge of how criminals launder funds on a global scale. At FCS, Malcolm works with agents daily, supporting them with all their AML obligations, including training, CDD, compliance documentation and assisting them through the HMRC inspection process.