HMRC has just dropped a powerful reminder to the property industry: anti-money laundering (AML) compliance is not optional—and the consequences for falling short are significant.
In a newly released report, HMRC revealed it has fined 336 businesses a total of £3.2million for breaches of AML regulations. This total included 194 estate agents.
With fines up to £50,000 per estate agent, these fines also shine light on the other risks of getting AML wrong; delayed transactions and reputational damage.
Estate agents choosing Dezrez don’t need to take risks, they can simply choose MarketReady instead.
MarketReady by Dezrez is designed to take complicated AML legislation and make it breathtakingly simple for estate agents. MarketReady also takes care of material information requirements and gives movers the opportunity to get their initial documents in order before an offer is even accepted!
This facilitates faster due diligence, earlier identity checks and smoother communication between all parties. It also means agents can not only reduce transaction times and speed up the time to market a property, but also stay ahead of compliance risks—including AML.
Getting MarketReady…
Ensures compliance and removes the burden of admin from your team
Provides simple, centralised reporting to track material information and AML progress in one place
Minimises hassle for your customers, preserving your relationship with them
Guarantees faster, more certain transactions with our included LegallyReady conveyancing service, handled by award-winning conveyancers you can trust
With Dezrez, There’s No Need to Take Risks
With over £3.2 million in fines issued and public naming of those who failed to meet regulations, the message from HMRC is clear: compliance is non-negotiable.
Now is the time to review your processes—and ensure your technology is working for you, not against you.
Want to find out how MarketReady can help you stay compliant and win more instructions? Book a free demo today:
