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Keeping It Real Estate News and Trends in UK Real Estate, Disputes and Planning Law

Tag Archives: money laundering.

Posted in Real Estate News

Money Laundering Regulations 2017: government rush threatens a teething period for property auctioneers

New money laundering regulations could prove to be a headache for property auctioneers until those affected get to grips with the changes, according to leading figures in the industry. The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the “Regulations”), as laid in Parliament on 22 June 2017 and

Posted in Real Estate

Auction sales under the hammer from identity fraud

Selling property at auction can, at times, seem an attractive, quick-fire solution for over-burdened sellers whilst offering potentially ripe pickings for bargain-hunters. Neither scenario is without its risk as the very nature of property auctions can offer loopholes for identity fraudsters and money launderers. In July of this year auctioneers had to pay out damages