Anti-Money Laundering - Guide for Property Professionals

For any professional working in the property management or lettings sector who may be handling and transferring money on behalf of a client.

Overview

The buying and selling of property in the UK is identified by law enforcement agencies as a favoured method of money laundering. Transparency International has identified the financial crime risks associated with property investment in their March 2015 report: Corruption on your doorstep: How corrupt capital is used to buy property in the UK. To tackle this, The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 were laid before Parliament on 23 June, and subsequently came into effect on 26 June 2017.

During the next eighteen months the rules governing anti-money laundering will be updated. Property professionals need to be aware of the issues, the requirements and where necessary undertake a risk assessment of their work. Policies and procedures may need updating and you’ll be required to ensure that your approach to financial crime prevention meets the legal requirements.

During this class, you will identify the upcoming changes to AML practice and how this will impact you in your role. Gain an understanding of the requirements set against you, how you can best prepare and how to avoid risks posed to your firm.

Learning outcomes

• Recognise the background context of the wider financial crime perspective surrounding AML
• Define the current regulatory requirements for AML
• Examine how requirements have changed under The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
• List the key players in the anti-money laundering arena
• Put in place steps to prepare for the changes to policies and procedures
• Identify AML knowledge gaps and training requirements

Course Content

• What’s changed? Changes to the legislation and the immediate impacts on your work 
• The current situation; risks, supervisory requirements through HMRC and what other sectors are doing
• Quick tips on preparation; risk assessments, putting policies in place and demonstrating how you’re monitoring policies and success

Course format

This web class recording will be a combination of structured learning points, using a Powerpoint presentation. Once you are enrolled, you have access to all course materials.

*This course will be available for 14 days from the date of purchase.