Breaking Property News 22/05/25

Daily bite-sized proptech and property news in partnership with Proptech-X.

 

Mandatory AML checks now enforced for Landlords and Tenants

From 14th May, 2025 new UK legislation requires that all landlords and tenants be screened against global sanctions and PEP (Politically Exposed Persons) lists. These checks are now a legal obligation, with no exceptions, and failure to comply could lead to severe penalties — fines of up to £1 million or 50% of the estimated value of the breach, whichever is higher.

What Does This Mean in Practice?

When someone is screened against global sanctions lists, their name is checked against official records from governments and international authorities (such as the UN, EU, UK, and OFAC in the US). These lists include individuals and entities who are subject to sanctions because of involvement in criminal activities, terrorism, or threats to international peace and security. Being on one of these lists may mean the person is banned from certain financial transactions or subject to asset freezes.

Politically Exposed Persons (PEPs) are individuals who hold or have held prominent public positions—like government ministers, judges, senior military officers, or directors of state-owned enterprises—or are closely connected to someone who does. Because of their influential roles, PEPs present a higher risk for bribery, corruption, or money laundering. AML regulations require enhanced scrutiny for these individuals to ensure financial integrity and compliance.

In essence, this legislation means all letting agents and landlords must ensure that no tenant or landlord involved in a property transaction is a known financial risk, either through direct criminal links or association with high-risk individuals.

FCC Paragon’s AML Check Service: A Compliance Essential

In an era where financial crimes are increasingly sophisticated, FCC Paragon offers a comprehensive Anti-Money Laundering (AML) Check Service designed to help organisations meet regulatory obligations and shield themselves from financial misconduct.

Why AML Checks Matter

AML checks are a critical defense against money laundering and terrorist financing. They are legally required across various sectors, including:

  • Property letting and management
  • Financial services
  • Legal practices
  • Corporate firms

Non-compliance not only invites substantial fines but also risks reputational damage and legal consequences.

Key Features of FCC Paragon’s AML Check Service

FCC Paragon has developed a powerful and easy-to-use AML service tailored to current legal requirements:

  • Sanctions and PEP Screening: Instantly flags individuals appearing on global sanctions lists or identified as politically exposed.
  • Comprehensive Data Checks: Cross-referencing multiple trusted data sources to verify identities.
  • Real-Time Monitoring: Continuous updates ensure you stay compliant with the latest legal obligations.
  • ID Confirmation in Seconds: Get pass/refer results in under a minute — ideal for landlords, tenants, buyers, and vendors.
  • Secure & Private: Advanced encryption ensures all personal data is handled with strict confidentiality.
  • Available 24/7/365: The system is always accessible, with a high UK match rate for reliability.
  • Cost-Effective: Offers excellent value by helping reduce risk and avoid costly breaches.

How It Works

  1. Input Client Information
    Enter details into the secure online platform.
  2. Run the Checks
    The system performs comprehensive AML checks instantly.
  3. Receive the Report
    A pass/refer decision is generated typically in under one minute, supporting rapid, informed decision-making.

Serving a Range of Industries

FCC Paragon’s AML Check Service supports:

  • Letting and estate agents
  • Legal professionals
  • Financial advisors
  • Recruitment firms
  • Corporate service providers

Why Choose FCC Paragon?

With years of experience in regulatory compliance, FCC Paragon offers:

  • Deep Expertise in UK and international AML laws
  • Tailored Solutions specific to each industry
  • Award-Winning Service that sets the standard for excellence

Stay Compliant, Stay Protected

FCC Paragon’s AML Check Service is your dependable partner in this new legal landscape. Ensure your business is compliant, secure, and protected from penalties.

 

Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X

Andrew Stanton

CEO & Founder Proptech-PR. Proptech Real Estate Influencer, Executive Editor of Estate Agent Networking. Leading PR consultancy in Proptech & Real Estate.

You May Also Enjoy

Home and Living

High Quality Modular Homes for the UK

Are you looking for added accommodation space in your garden / on your land? Modular Living Homes by tutumHOUSE offer a new way to live – minimalist in form, rich in experience. “There are approximately 9.6 million homes in the UK with a garden shed, and around 52% of the population owns one.” asgardsss There…
Read More
Estate Agent Talk

The most stressful places to move to in the UK

With more people in the UK moving homes during summer than any other season and the average cost of moving in the UK rising to over £14,000, picking the right place to move to has become more crucial than ever. Luckily, new research from Pay Less for Storage reveals the UK cities that make life easiest…
Read More
Estate Agent Talk

Time-Traveling Estate Agent Sequel Climbs Amazon Charts

A UK Estate Agent Currently Bringing Joy to People’s Lives – Shame He’s Fictional…   Eric Meek, the fictional estate agent created by author Dale Bradford, is back for a second outing in The Time‑Travelling Estate Agent 2, a sequel that is already climbing Amazon’s bestselling time‑travel rankings. Estate agents were recently highlighted as the third…
Read More
Estate Agent Talk

Is it finally time for lenders to back green homes?

Andrew Smith weighs the risks and rewards Property developers are increasingly pitching green homes to lenders; however, with sales cycles slowing down and repair costs rising, is now the right time to back sustainable builds and at what price point is there market demand? Sustainability is continuing to shape our future of construction with the…
Read More
Breaking News

Breaking Property News 24/07/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   OpticWise – digital infrastructure in commercial real estate If your building were a product, how would it perform on the user experience scale?  Week 9: Experience as Infrastructure – Designing for Human-Centric Buildings Welcome to Week 9 of our 52-week journey into the future…
Read More
new build homes colchester essex
Breaking News

UK Housebuilding Falters as Construction Hiring Flatlines

New research from Inventory Base reveals that UK construction industry employment has increased by almost 11% in the past five years, but there has been less than 1% growth in the past 12 months. Inventory Base’s analysis of the UK construction industry shows that in 2024 (latest data available) it employed an estimated total of…
Read More