Latest News

A thirst to get qualified at the Propertymark Wales National Conference

18 October 2019

With so much change for agents in Wales in 2019, the delegates at the Propertymark Wales National Conference heard a legislative reminder on anti-money laundering, referral fees and the regulation of the industry. Read More...

Homeowners more than £350k better off than private renters over 30 years

18 October 2019

The average homeowner in the UK could be £352,500 better off than the average private renter over the next 30 years, new research from the Intermediary Mortgage Lenders Association (IMLA) says. However, the report also outlines the financial and social barriers that younger people face in becoming homeowners and suggest that rising house prices may not be the main cause. Read More...

Changes to shared ownership announced

18 October 2019

Plans for a new national model for shared ownership will help thousands of lower earners step onto the housing ladder. A package of measures to help people on lower incomes get onto the housing ladder have been confirmed by Housing Secretary Robert Jenrick. Read More...

Lonres acquires AML Health Check provider FCS

Monday 30 September 2019

Business-to-business trading platform Lonres has bought leading AML consultancy Financial Crime Services (FCS), which provides Propertymark’s AML Health Check services and training courses.
The acquisition of FCS does not mean its services will be only available to Lonres subscribers; its work with residential and commercial agents from across the UK will continue. Propertymark members can still book their AML Health Check with confidence.

Anthony Payne, Managing Director of LonRes says, “Two staff from our office signed up to go on one of Jerry’s NAEA all-day courses and to be honest they weren’t thrilled by the prospect, but they came back raving about the course saying it was brilliantly engaging so, eventually, we began talking to Jerry about acquiring his business.”

This acquisition comes at a time when HMRC is focussing on estate agents as part of a wider money laundering crackdown.  Agents are expected to put in place controls and procedures into place to deal with AML and terrorist financing. Penalties such as significant fines, management bans, and even jail time face those who do not comply.

Jerry Walters, Managing Director of Financial Crime Services said, “AML policy is becoming ever more complex and for those who fail to understand it, the fines are large.  It is easy to be unwittingly non-compliant, but for HMRC this is no defence. 

“Our background in financial crime enforcement gives us a unique understanding of the intricacies of AML policy which in turn enable us to give practical help and guidance to property professionals.  The London property market has been ear-marked as a centre for money laundering and our comprehensive services are designed to ensure that businesses are compliant at every level.”

Get compliant on AML

Compliance with AML regulations is important but needn’t be worrying. Propertymark members can take advantage of several AML resources and also book an AML Health Check to make sure that their staff and business are fully AML compliant.