A new taskforce involving the National Association of Estate Agents has been set up to tackle economic crime, including money laundering.

The new Economic Crime Strategic Board will meet twice a year.

The board, set up jointly by the Home Secretary and the Chancellor, includes trade and professional body representatives of banks, solicitors and accountants, as well as estate agents.

NAEA chief executive Mark Hayward said: “The Economic Crime Strategic Board is significant in that for the first time, all the relevant industries and Government departments are coming together to tackle economic crime by agreeing strategic priorities and ensuring that resources are aligned to deliver them.

“Property is often seen as a gateway to money laundering and it is essential that estate agents are aware of their duty in carrying out the right checks and reporting any suspicious activity.

“As a board we will be seeking to ensure a step change in how the UK tackles economic crime and the role that the private sector can play in doing so.”

Meanwhile, a new e-learning package for estate agents on money laundering has been released by the Governmennt.

It is aimed at managers and senior managers, but is equally suitable as training material for more junior staff.

As a package, it can be tackled in bite-sized sections.

It does seem clear and well thought-out – although the bit about how easy it is to renew registrations may raise a hollow laugh among some estate agents who were baffled as to how they could meet this year’s deadlines for renewals.

http://www.hmrc.gov.uk/courses/amls/eabs/