The UK's property sector is bracing itself for significant changes to anti-money laundering (AML) legislation, with HM Treasury announcing amendments on 30th June. In response, FCS Compliance is hosting a free webinar on Thursday, 16th July at 1pm to guide professionals through the updated regulations.
The session, titled 'Property AML law and guidance has changed – are you ready?', comes as regulatory bodies prepare to release detailed guidance in the coming weeks. With changes set to be implemented, property professionals must stay ahead of the curve to avoid penalties and reputational damage.
Stephen Williamson, Lead AML Consultant at FCS Compliance's Property Division, will lead the 30-minute online session, focusing on the practical implications for those working within property. He stressed that businesses must strengthen their Risk Assessments and Customer Due Diligence (CDD) processes to meet HM Revenue & Customs' (HMRC) expectations.
The webinar will cover key topics including the specific meaning of Money Laundering Regulation changes for estate and letting agents, how upcoming HMRC guidance will impact day-to-day AML compliance, and what HMRC expects to see in a business's risk assessment, policies, and procedures. Attendees will also learn how to identify higher-risk clients, transactions, and warning signs.
Experts will provide practical steps to immediately strengthen AML controls, including identifying essential records, training, and audit trails businesses should have in place. The session aims to equip participants with actionable advice to ensure they are prepared for potential inspections and maintain robust compliance.