Azizur Rahman | 4 May 2024
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With hundreds of estate agents’ money laundering failings having been made public, Rahman Ravelli wrote about the importance of such businesses meeting their legal obligations.
In this piece, which was published by Estate Agent Today, Rahman Ravelli summarise the money laundering shortcomings in the property sector that saw HM Revenue and Customs issue fines totalling more than £1.6 million in the 2023-24 financial year.
They detail the legal responsibilities that those in the sector have as regulated companies, subject to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
Rahman Ravelli also explain how serious the penalties can be for not meeting those responsibilities and the importance of firms seeking advice to ensure they are complying with the law.
The full article can be read here.
Featured at: Estate Agent Today
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