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SavingBear

Money-laundering crackdown puts estate agents and public schools on notice

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https://news.sky.com/story/money-laundering-crackdown-puts-estate-agents-and-public-schools-on-notice-11541619

 

Mr Wallace also spoke of "attacking" criminals' ability to "enjoy some sort of status", as he warned high street businesses to guard against being used to facilitate money laundering.

He described how out of around 620,000 suspicious activity reports to the National Crime Agency (NCA) every year, 83% of them are made by banks.

However, for example, less than 1% are made by estate agents, Mr Wallace added.

Estate agents will be targeted as part of a crackdown on money laundering. 

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40 minutes ago, SavingBear said:

He described how out of around 620,000 suspicious activity reports to the National Crime Agency (NCA) every year, 83% of them are made by banks.

However, for example, less than 1% are made by estate agents, Mr Wallace added.

Estate agents will be targeted as part of a crackdown on money laundering.

They wont be.  The solicitor deals with the details of the finance The agent may ask for proof of deposit but he does not have the authority to ask for the trail of money.  The most they will generally see is a bank statement.

The solicitor asks for 3/6 mints bank statements and proof of where the money came from as do the lenders. 
Would I discuss the details of my bank accounts with an estate agent? No way.

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  • 144 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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