New Money Laundering Regulations - 27/06/2017
New Money Laundering Reguations introduced by the Government came into force from 26 June, 2017. There are a number of significant changes for estate agents under the Regulations, such as the requirement for agencies to now check the identity of their buyers as well as their vendors.
Anyone purchasing a property will now be required to produce one form of photographic ID - ideally a passport or driving licence - as well as something dated within the last three months that connects them to their current property i.e. utility bill, bank/mortgage statement, council tax bill, driving licence if their passport has already been provided.