aml

EU Parliament endorses key changes to anti-money laundering rules

Members of the European Parliament (MEPs) voted overwhelmingly in favour for key changes to be made to the European Union’s anti-money laundering directive.

MEPs supported an agreement with the Council which will give public access to information on the real owners of firms operating in the EU, a measure aimed at quashing the corrupt use of letterbox companies created to launder money and hide wealth.

KYC & AML requirements for estate agents and how real estate is used for money laundering

Popular BBC drama McMafia is apparently holding a mirror up to money laundering in the London property market, accurately portraying the industry to be a haven for criminals looking to clean up “dirty” money.

AML regulations - Confusion in the estate agent industry

A recent survey of estate agents has revealed the extent of the industries confusion around current Anti-Money Laundering (AML) regulations.

Only 12% of participants achieved a perfect score in the multiple-choice questionnaire, which focused on the 4th Money Laundering Directive (4MLD), while 13% of respondents believed a PEP to be a “Property Exempt Person”.