The new Anti-Money Laundering Regulations 2007, effective from 15 December 2007, affect the regulated sector, including estate agents, most financial firms (banks, building societies, investment companies), accountants, tax advisers, auditors, casinos, and high-value dealers when dealing in values over €15,000.

Letting agents will continue not to be included within the scope of the Money Laundering Regulations.

The new legislation brings about some changes particularly for estate agents, namely the requirement that agents be supervised for compliance with the regulations.

Some of the requirements of the new regulations are examined in this RICS Guidance page.

Further information
Copies of the new regulations can be found on the HM Treasury website.

OFT has also published guidance for estate agents and this is available on their website.

RICS Regulation
T +44 (0)20 7695 1670
E regulation@rics.org.