The Edinburgh Realty eNewsletter
Issue #69 | December 2018Archive
Anti-Money Laundering (AML)
A quick heads up - from 1 January 2019 the AML and Countering Financing of Terrorism Act 2009 kicks in for real estate.
It’s already up and running for lawyers, accountants, conveyancers and other industries. Later next year, it will roll out to trading and sports betting businesses.
Most of the compliance work is at our end. All it means for you during a real estate transaction is that you and any associated parties will be asked to provide proof of ID and proof of address. We take care of the rest.