Mark Hayward speaks in Parliament at APPG on Anti-Corruption

Thursday 05 November 2015

On 3 November 2015 Mark Hayward, Managing Director of the National Association of Estate Agents, spoke in Parliament at the All Party Parliamentary Group on Anti-Corruption who along with Transparency International-UK hosted a screening of From Russia with Cash followed by a panel discussion and Q&A.

The APPG is a cross party group of MPs and peers from the UK Parliament who come together to raise awareness of the impact of international corruption and to enhance and strengthen UK anti-corruption policies and mechanisms.

From Russia with Cash is an investigative documentary, originally aired on Channel 4, which highlights how money laundering through London’s property market is facilitated and encouraged.

The panel was chaired by Lord Watson of Invergowrie (Vice-Chair of the APPG) and included Dr Robert Barrington (Executive Director, Transparency International-UK) Roman Borisovich (‘Boris’ From Russia with Cash), Chido Dunn (Senior Campaigner, Global Witness) and Mark Hayward.   

After the screening the panel discussed how corrupt money comes into the UK, its implications for the UK and countries overseas, and potential policy solutions to prevent London from becoming a safe haven for the corrupt. Mark explained how closely the NAEA works with policy makers and law enforcers on anti-money laundering and the disciplinary process that members would go through if they fall foul of the legislation.

The panel universally welcomed the Government’s announcement of a consultation into property ownership transparency but voiced concern that the consultation has been delayed.

The panel drew attention to other areas of weakness in the UK’s defences against money laundering in the real estate sector; chief among the concerns is that the industry is entirely unregulated – dodgy agents cannot be ‘struck off’. There was also some concern about the number of organisations that have responsibility for anti-money laundering and consensus that this needed rationalizing in order to be more effective.

The National Association of Estate Agents recently responded to the Government’s review of the impact on business of the current anti-money laundering and terrorist finance regime. Find out more about the review and read our response in full HERE

NAEA host a number of free Masterclasses around the country to ensure members are aware of the legislation. Speakers include representatives from HMRC, the National Trading Standards Estate Agency Team, National Crime Agency and the Property Ombudsman.

Book your place on one of our Masterclasses