The Office of Fair Trading (OFT) is the supervisory authority for estate agents who fall under S1 of the Estate Agents Act 1979. Enforcement and monitoring visits will be conducted by officers of TSS locally.
Members of the above professional bodies will be supervised for complaince under their relevant professional assurance scheme and subject to the relevant members disiplininary codes of prectice.
POCA is the UK’s primary money laundering legislation.
Chapter 7 sets aout the predicate offences of money laundering applicable to all, S327 Conceals, S328 Arrangement and S329 and Aquires.
The ML Regulations are the UK’s secondary legislation in the AML/CFT regime. they where first introduced in 1993 and the 2007 Regulations are just the latest version.
World-Check, in partnership with data quality specialist Datanomic, recently embarked on a project to screen the UK’s Companies House register of companies, company directors and secretaries against World-Check’s global database of high risk individuals and organisations.
Financial institutions in the UK should give special attention to business relations and transactions with persons, including companies and financial institutions, from jurisdictions that do not adequately apply the FATF Recommendations.