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Andrew Grant has successfully passed its recent HMRC business inspection

A report released today has shown that just 12%* of agents understand Anti-money Laundering (AML) obligations.

New European legislation, European Union's Fourth Money Laundering Directive (EU4MLD), which came into force this year requires certain businesses to perform essential electronic money laundering searches to ensure compliance. 

Her Majesty’s Revenue and Customs (HMRC) are conducting nationwide AML checks, which are not only a legal requirement, but are crucial to our business for preventing identity theft and money laundering. The purpose of these HMRC visits is to check the compliance of our business under the new regulations and to make sure we are following all necessary precautions. By its nature the property sector can be exposed to financial fraud.
HMRC looked at how we operate our anti-money laundering policies and procedures, and the great news is that we successfully passed. Andrew Grant has always performed identity checks as standard for its buyers and sellers and is extremely pleased to be within this 12%. 

Kristian Stott, Managing Partner at Andrew Grant comments:

“We are proud to have passed the AML inspection, as this means that we have the right systems in place, proving that we are the best type of agency; one that looks after its clients and ensures that they are receiving the best possible levels of service.”

 If you would like to learn more please contact Caroline Hope ACIM, Marketing Manager

Source: Property Industry Eye

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