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The property market remains an attractive target for money laundering because of the value of property assets and the ability to hide ownership through companies, trusts, and overseas structures. An estimated £6.7 billion of UK property was bought with wealth suspected to have come from questionable sources between 2016 and 2022 — yet the National Crime Agency (NCA) reports that the volume of SARs from the property sector remains low.
Propertymark has highlighted the challenges property agents face when identifying the hidden influence of Designated Persons in transactions. The Office for Financial Sanctions Implementation (OFSI) is examining how the rules are applied in practice, and we’ve been clear that whilst agents are committed to preventing financial crime, the current expectations are often difficult to meet.
Insights from 2026 AML audits highlight how estate and letting agents are performing across key compliance areas, with strong training standards and clear opportunities to enhance registration, documentation, and reporting practices.
HM Revenue and Customs (HMRC) has issued hundreds of thousands of pounds in new fines to property agents for failures to comply with anti-money laundering (AML) regulations, reinforcing the consequences of getting compliance wrong. The latest enforcement action covers the 2025–26 reporting period and includes 170 penalties issued to estate agency businesses, totalling more than £835,000. Letting agents are also within HMRC’s supervisory scope where transactions meet the required thresholds.