NAEA Propertymark is looking for members to trial a new app providing identify verification and compliance with new Anti-Money Laundering regulations.

The Fourth Anti-Money Laundering and Terrorist Financial Directive was brought into force at the end of June, making estate agents responsible for checks on both buyers and sellers.

Agents must register with HMRC and have a money laundering reporting officer and a senior member of staff responsible for compliance with the regulations.

Just over a month in, NAEA Propertymark has said it will offer masterclasses over the rest of this year across different regions.

It is also developing an app, the NAEA Propertymark Passport, for release in the autumn, that uses artificial intelligence with biometrics to help confirm someone’s identity and report issues and concerns of money laundering.

Mark Hayward, chief executive of NAEA Propertymark, said: “For a long time we have been leading the call for guidance and clarity on sales agents’ obligations to carry out customer due diligence on buyers, so we were pleased to see this in the Fourth Anti-Money Laundering Directive.

“We’re continually developing new ways to help agents to comply, and our masterclasses across the country will help ensure that members understand their obligations.

“The launch of the NAEA Propertymark Passport in the autumn will also support members, and we’re excited to be able to share further details of this very soon.”