The article published earleir this year by The Negotiator highlights concerns from the Property Lawyers Alliance (PLA) regarding the perceived excessiveness of anti-money laundering (AML) regulations in the conveyancing sector, arguing that these controls are “choking” the homebuying process with red tape, delays, and financial While these frustrations are understandable, it is crucial to recognise the indispensable role that AML controls play in protecting the integrity of the UK property market, safeguarding clients, and upholding the legal profession's reputation. The Real Threat: Money Laundering in Property Transactions Real estate is globally recognised as a high-risk sector for money laundering. The high value and relative stability of property make it an attractive vehicle for criminals seeking to legitimize illicit funds. Without robust AML controls, the property market would be exposed to significant financial crime risks, undermining public trust and potentially fac...
This blog is for CQS accredited firms in England and Wales. Including topics like the Conveyancing process, Conveyancing Policy Templates and Conveyancing case law. As it contains everything about conveyancing and conveyancers it should be of particular interest to property lawyers and property solicitors, as well as COLP and Compliance Managers.