HMRC ready to pounce on agents, claims ex-police AML expert

Anti-money laundering consultancy FCS Compliance has announced its latest Webinar for agents using Rightmove.

And with it comes a warning that the HMRC is 'ready to pounce' on lettings and sales agents.

The event - Are you ready for an HMRC inspection? - is a live question and answer session, which is free to Rightmove members, at 10am on Wednesday July 19.

It will be presented by AML specialists and ex police service personnel Malcolm Driscoll and Caroline Walters.  

They will share their views on the essential aspects of the Money Laundering Regulations, typical AML pitfalls and the consequence of non-compliance.  

They will also give observations from the front line and suggest what agents need to be looking out for.

Driscoll - an AML veteran who spent 40 years as an investigator of complex fraud and money laundering cases for the police - says: “Between 2019 and 2022, and despite the pandemic, HMRC continued to be active, issuing financial penalties totalling some £7.5m to businesses with AML shortcomings. 

“And again, earlier this month, HMRC announced that agents across the country had been fined thousands of pounds in AML breaches. 

“Be under no illusion, the UK property market remains at high risk for the laundering of dirty money and businesses need to know how to protect themselves.”

Rightmove members can register through the Rightmove Hub at https://hub.rightmove.co.uk/are-you-ready-for-a-hmrc-inspection-live-qa/