Money laundering is a growing risk for the property industry

Experts say government intervention is needed to help protect the sector from illicit criminal activity

In 2020, the property sector was given a ‘high-risk’ score in the UK government’s national risk assessment of money laundering and terrorist financing, with estate agency businesses’ risk score increasing from ‘low’ to ‘medium’. The report also noted that between 2019 and 2020, estate agents filed 861 suspicious activity reports (SARs), up 21% on the same reporting period the previous year. 

Jerry Walters talks to Ifeoluwa Taiwo of Property Week. Read the full article here.