UK real estate agents reminded of need to register with money laundering scheme

Published by Property Wire
on Friday, 01 October 2010
 
Real estate agents in the UK are being warned that those failing to register with the Office of Fair Trading’s money laundering scheme are facing stiff financial penalties.

Publishing it interim policy on imposing financial penalties on estate agents and certain credit lenders, the OFT points out that those who fail to do so will be subject to fines that start at £2,000 and increase by £1,000 for each additional unregistered premise.

Where the OFT believes …


Tags: estate agent, financial, money, policy, property, scheme, uk

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