HMRC’s new Estate Agency Business Guidance strengthens AML requirements with earlier CDD, enhanced source of funds and wealth checks, stronger SAR reporting, and updated registration obligations

The revised guidance introduces a stronger focus on assessing proliferation financing risk, clarifies the application of risk-based AML controls, and reinforces customer due diligence and governance requirements. It also emphasises that each regulated business involved in a property transaction has an independent legal obligation to report suspected money laundering or terrorist financing…