Anti-Money Laundering Guidance

The Money Laundering Regulations 2007 were amended on 1 October 2012. Our AML Guidance is currently being updated to reflect these changes.

HM Treasury have formally approved the existing guidance. This means that designated authorities must consider whether this guidance has been followed when deciding whether a person has failed to comply with the Money Laundering Regulations. The guidance has been formally approved for the purposes of section 330(8) of the Proceeds of Crime Act (2002), and the guidance which deals with the Terrorism Act (2000) has also been formally approved by HM Treasury for the purposes of section 21A(6) of that Act.

NFoPP has worked in conjunction with the RICS, the Association of Relocation Professionals, and the Association of Residential Managing Agents, to produce revised guidance for all members in relation to:

  • Proceeds of Crime Act (POCA)
  • Counter-Terrorism Act (CTA)
  • Financial Sanctions
  • Bribery Act
  • Money Laundering Regulations (MLR)
  • AML Supervision

The guidance also includes sector specific guidance intended to assist property professionals working in different disciplines to understand how the obligations apply to them.

One of the requirements of the legislation is to ensure that agents have documented policies and procedures with regard to MLR, POCA and CTA. The National Crime Agency (NCA) published their 2016 National Strategic Assessment on 9 September 2016. Within the aforementioned document is information regarding a variety of national threats, these may be scenarios that an agent will encounter in the course of their business, therefore, it may be pertinent to refer to document when compiling and reviewing your own business risk assessment.

We would also suggest that you view the following two webpages:

Additionally, the government has produced the following useful background information about how the Home Office and Treasury work to implement an effective anti-money laundering and counter financing of terrorism policy in the UK. Please click here to view the information.

AML Guidance

Produced by NFoPP, RICS, ARP, ARMA

Identity Verification Form

This form will assist in collecting important information regarding the sale and/or purchase of property and/or land.