Fifth Money Laundering Directive (5MLD)

Fifth Money Laundering Directive (5MLD)

The government has launched a consultation on updated anti-money laundering (5MLD) and whilst existing regulations apply to estate agents this isn't currently the case for letting agents.

The consultation actively seeks input with regards the definition of letting agents, the activities that define such a service and roles that may be exempted in addition to a financial threshold.

There is of course (and the consultation paper does state this) already extensive requirements for financial regulation and recording within lettings. Such recording doesn't lend itself of use to criminal gangs seeking to launder money.

The consultation document is available below:


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