Statement from the National Association of Estate Agents

Commenting on yesterday’s announcement from David Cameron, regarding money laundering within the UK property market, Mark Hayward, managing director, National Association of Estate Agents (NAEA) says: “We do not tolerate the behaviour of any estate agents who are involved in money laundering within the UK property market, and agree with the Prime Minister that our property market should never be a place that facilitates corruption of any kind. All agents should report any activities of such nature to HMRC or the National Crime Agency, and failure to notify them, or to allow money laundering activities to knowingly take place, is a criminal act.

“Our members agree to abide by the professional standards that the NAEA has put in place, and we operate a range of sanctions to combat any breach of these strict standards. As a result of the recent From Russia with Cash documentary we are working closely with HMRC and the NCA in order to educate all of our members on the subject of money laundering, in order to fight against any such abuses in the UK property market.”

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For More Information Contact:
Matthew Gray
Mobile: 07730 001153
Direct Dial: 0131 516 5367
Email: mgray@gilsongray.co.uk

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The information and opinions contained in this blog are for information only. They are not intended to constitute advice and should not be relied upon or considered as a replacement for advice. Before acting on any of the information contained in this blog, please seek specific advice from Gilson Gray.