Anti-Money Laundering: Essential Checks Explained
Anyone letting a property must complete UK anti-money laundering checks. Here’s what they involve and how to make it quick and painless.
Prefer to watch? Press play on the video above for a quick overview or keep reading for the complete guide.
Why AML Checks Are Mandatory
Property transactions involve large sums of money, which sadly makes them a target for financial crime. That's why all letting agents in the UK are legally required to complete anti-money laundering (AML) due diligence before a tenancy agreement is signed.
These checks help protect everyone involved by ensuring all transactions are legitimate, secure, and above-board. For landlords, it's not just good practice; it's essential. It's a legal obligation.
What You’ll Need to Provide
There are four key checks we must carry out to meet current AML and Sanctions regulations:
- Proof of Identity - A valid passport or driving license.
- Proof of Residential Address - A recent utility bill or bank statement (dated within the last 3 months).
- Proof of Ownership - A document confirming you own the rental property, such as a Land Registry record or mortgage statement.
- Sanctions List Verification - A check to confirm you’re not listed on the UK Sanctions List, ensuring you are legally allowed to let your property.
How We Make It Easy
The Robinson Jackson Group has simplified the process using secure digital technology. You'll receive a personal link to complete a short online form and facial recognition check, all from your phone or computer. It's safe and fast and only needs to be done once per property.
Do you prefer the traditional route? You can provide physical documents to your local office, but please note this may add some delay to the lettings process.
When Do AML Checks Happen?
We can start marketing your property straight away, but AML checks must be completed before we can finalise any tenancy. Delaying this step can cause avoidable hold-ups later, so we recommend completing your checks as soon as possible.
Keeping Compliance Hassle-Free
The Robinson Jackson Group is committed to making compliance easy. Our experienced lettings teams will guide you through each step so you stay on the right side of the law without any unnecessary stress.
Do you have a question or need help with your documents? Contact us today or visit your local office.