In this episode, we address one of the least exciting yet critically essential topics in the property sector - Anti-Money Laundering (AML).

Phil highlights the steps estate agency owners should take to ensure compliance and avoid hefty fines, which can range from £1,500 to as much as £52,000!

Find out the common pitfalls and the solutions that can prevent financial penalties, including regular training, and risk analyses which are necessary for protecting your agency’s future.

Learn the importance of identification checks and how to effectively implement SARs (Suspicious Activity Reports), ensuring your agency stays on the right side of the law in a landscape that can often feel like a minefield.

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Some key takeaways:

➡️ Registration and updated AML policy are vital to avoiding fines.

➡️ Regular training and well-documented risk assessments support compliance.

➡️ Identifying suspicious activities early can protect your agency from future legal troubles.

Some great moments:

✅ “If you’re registered and have a clear AML policy, you’re already a step ahead.”

✅ “We try and do two or three suspicious activity reports a year; if any red flag arises, it's sure to be followed.”

✅ “Half the agents aren’t downloading titles on land registry; without this, you’re partly flying blind on ownership checks.”

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