Course Overview
This course provides letting agents and landlords with practical training on AML regulations, covering registration, risk assessment, customer due diligence, and record keeping in line with HMRC and Money Laundering Regulations 2017 (as amended).
Understanding how money laundering works — and how to spot the warning signs — is crucial for protecting your business and staying compliant with UK regulations.
What Is Money Laundering?
Money laundering is the process of disguising the origins of money obtained through illegal activities, making it appear legitimate. Criminals often target the property sector to move and conceal illicit funds, putting landlords and letting agents at serious risk of unknowingly facilitating financial crime.
Who would benefit from this course?
Letting agents, Property Managers, Landlords, Portfolio Managers, Housing Professionals and Property Administrators.
Course Details
Session 1: AML Essentials for the Property Sector
- What is money laundering?
- Why is property at risk?
- Overview of the Money Laundering Regulations (MLR) 2017 and recent updates
- Who needs to register with HMRC for AML supervision?
Session 2: Know Your Customer (KYC) Requirements
- How to conduct Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD)
- Identifying high-risk customers (PEPs, offshore structures, crypto usage)
- Acceptable forms of ID and proof of address
- Collecting acceptable information on limited companies and other legal entities
Session 3: Risk Assessments
- Risk indicators specific to landlords and agents (e.g. cash payments, third-party involvement, unusual structures)
- How to screen for red flags and suspicious activity
Session 4: Record Keeping & Reporting Obligations
- Record-keeping standards for AML compliance
- Internal escalation and how to handle staff disclosures
- How to submit a Suspicious Activity Report (SAR) to the NCA
Session 5: Staff Training & Accountability
- Roles and Responsibilities
- Staff training in line with Regulation 24
- Building an audit trail of training and compliance activity
