Anti Money Laundering checks for letting agents

The Anti-Money Laundering Directive requires all estate agents to carry out due diligence on both buyers and sellers; however, the government later clarified in their consultation outcome on Money Laundering Regulations 2017 that agents are not obliged to carry out mandatory AML checks on all landlords and tenants.

Despite AML checks not being a mandatory requirement, many agents are now choosing to do so for additional peace of mind. It's essential that all AML checks must be performed in strict compliance with relevant privacy laws. The General Data Protection Regulation (GDPR) mandates even stricter controls over the storage, processing and collection of data.

As a result of demand from our customers, we now offer optional AML checks as part of our standard tenant references for a small additional charge. Customers can choose to either run AML checks on all applications or select on a per application basis. Our partnership with Equifax ensures access to the most up to date and accurate data set in the UK.

To benefit from these checks all you need to do is select 'yes' in the AML section of our tenant reference application form. If you would like to include AML checks in all of your references, please contact us to enable this feature on your account.