{"id":8951,"date":"2024-09-19T13:46:33","date_gmt":"2024-09-19T13:46:33","guid":{"rendered":"https:\/\/www.amlcc.com\/?page_id=8951"},"modified":"2024-10-17T12:42:23","modified_gmt":"2024-10-17T12:42:23","slug":"hmrc-property-fines","status":"publish","type":"page","link":"https:\/\/www.amlcc.com\/bb\/hmrc-property-fines\/","title":{"rendered":"Does HMRC have you in its sights?"},"content":{"rendered":"\n
<\/span>\"shaking
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Does HMRC have you in its sights?<\/h1><\/div>\n<\/div>\n\n\n\n
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Between April and September 2023, HMRC fined property businesses \u00a31.6 million for breaching AML regulations. We\u2019re here to help you achieve AML compliance before you get that call.<\/p>\n<\/div>\n<\/div>\n\n\n\n

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Book a demo<\/a><\/div>\n\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n
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The Pandora papers revealed<\/a> that the UK property sector has facilitated a potential \u00a3170bn of illegal transactions, with many using shell companies to mask the real owners and source of funds. So it\u2019s little wonder that HMRC has been taking serious action in the years since.<\/p>\n\n\n\n

\u00a352,000 to an estate agents in Surbiton, London
\u00a327,400 to an estate agents in Poole, Dorset
\u00a327,000 to an estate agents in Hale, Cheshire<\/p>\n\n\n\n

With huge penalties and reputational damage at stake, you can’t afford to drop the ball on AML compliance. <\/p>\n\n\n\n

If you\u2019re only using an online AML solution that checks your clients\u2019 identity and data, it\u2019s not enough to pass an inspection.<\/p>\n\n\n\n

<\/p>\n\n\n\n

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AMLCC vs other platforms<\/h3><\/div>\n\n\n\n
<\/th>\"\"<\/th>\"\"<\/th>\"thirdfort<\/th>\"smartsearch<\/th>\"\"<\/th>\"\"<\/th>\"\"<\/th>\"kyc<\/th><\/tr><\/thead>
Supervisor endorsed<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
Law Society partner<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
All AML training in subscription<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
Business-wide risk assessment<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
100% customisable, detailed AML policy<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
Client risk assessments<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
Link clients for transactions<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
SAR portal to match NCA\u2019s<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
ID verification checks<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
Continuous PEP and sanctions monitoring<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
Live risk dashboard<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
Audit trail<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
Remote supervisor access<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
Document management<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
ICAEW technology accreditation<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
Specific sector risks training<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr>
Specific MLRO training<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td>\"\"<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div>\n\n\n\n
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You need every tool AMLCC offers to be fully AML compliant. Speak to our AML experts to find out why and see how the platform keeps you protected.<\/p>\n\n\n\n\n

Book a demo<\/a><\/div>\n\n<\/div>\n<\/div><\/div>\n\n\n\n
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In partnership with AML supervisors and professional bodies<\/p>\n\n\n\n

\"\"<\/div><\/div>
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<\/div><\/div><\/div>\n<\/div><\/div>\n\n\n\n
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What others have said<\/h3><\/div>\n\n\n\n
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\u201cAMLCC helps to build a compliance culture\u201d<\/h2><\/div>\n\n\n\n

Tim Pinkney<\/h4>

Director of Professional Standards, Institute of Financial Accountants, UK AML Supervisor, Member of the Institute of Public Accountants Group<\/p><\/div>\n\n\n\n

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Read case study<\/div><\/a><\/div><\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n
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\"Tim<\/figure>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n
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\u201cUsing AMLCC showed HMRC that we were taking our AML obligations seriously\u201d<\/h2><\/div>\n\n\n\n

John Young<\/h4>

CFO, I&H Brown and Breckenridge Lettings<\/p><\/div>\n\n\n\n

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Read case study<\/div><\/a><\/div><\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n
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\"John<\/figure>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/div><\/div>
<\/div><\/div>\n<\/div>\n\n\n\n
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Making a difference\u2026<\/h3><\/div>\n\n\n\n
\"AMLCC<\/figure><\/div>\n\n\n\n

There\u2019s more to CDD than anti-money laundering checks<\/h3><\/div>\n\n\n\n
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Read article<\/div><\/a><\/div><\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Pandora papers revealed that the UK property sector has facilitated a potential \u00a3170bn of illegal transactions, with many using shell companies to mask the real owners and source of funds. So it\u2019s little wonder that HMRC has been taking serious action in the years since. \u00a352,000 to an estate agents in Surbiton, London\u00a327,400 to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_uag_custom_page_level_css":".site-above-footer-wrap {\n\tdisplay:none!important;\n}","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-8951","page","type-page","status-publish","hentry"],"yoast_head":"\nIs your property business next in line for an AML fine? - AMLCC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.amlcc.com\/bb\/hmrc-property-fines\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is your property business next in line for an AML fine? - AMLCC\" \/>\n<meta property=\"og:description\" content=\"The Pandora papers revealed that the UK property sector has facilitated a potential \u00a3170bn of illegal transactions, with many using shell companies to mask the real owners and source of funds. 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So it\u2019s little wonder that HMRC has been taking serious action in the years since. \u00a352,000 to an estate agents in Surbiton, London\u00a327,400 to…","_links":{"self":[{"href":"https:\/\/www.amlcc.com\/bb\/wp-json\/wp\/v2\/pages\/8951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.amlcc.com\/bb\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.amlcc.com\/bb\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.amlcc.com\/bb\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amlcc.com\/bb\/wp-json\/wp\/v2\/comments?post=8951"}],"version-history":[{"count":0,"href":"https:\/\/www.amlcc.com\/bb\/wp-json\/wp\/v2\/pages\/8951\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.amlcc.com\/bb\/wp-json\/wp\/v2\/media?parent=8951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}