AML Compliance Statement
Date: 03 March 2025
Next Review Date: 03 June 2025
Anti Money Laundering (AML) Registration Number: XZML00000206844
Our Commitment to AML Compliance
Property Scout Ltd is fully committed to preventing money laundering and financial crime. We adhere to all applicable Anti-Money Laundering (AML) regulations and have implemented policies and procedures to ensure compliance with legal obligations.
Regulatory Compliance
We are registered under HMRC and comply with UK AML Regulations. Our processes are designed to detect and prevent illicit financial activities, ensuring a secure and transparent business environment.
Know Your Customer (KYC) & Due Diligence
To comply with AML laws, we implement Know Your Customer (KYC) procedures. This involves verifying the identity of our clients and conducting due diligence to assess potential risks. Clients may be required to provide:
- Government-issued identification (passport, driver’s license, national ID card)
- Proof of address (utility bill, bank statement, or equivalent)
- Additional documentation depending on the nature of the transaction
Transaction Monitoring & Reporting
We continuously monitor transactions for suspicious activity. If any transaction raises concerns, we are obligated to report it to the relevant authorities in accordance with AML laws. This is a crucial step in preventing fraud, money laundering, and financial crime.
Customer Responsibilities
By engaging with our services, clients acknowledge their obligation to provide accurate and truthful information. Any attempt to provide false information or engage in fraudulent activities will lead to termination of service and possible legal action.
Confidentiality & Data Protection
All personal and transactional data collected during our AML compliance process is handled securely and in line with data protection regulations. We do not share client information except as required by law.
AML Risk Assessment
As part of our compliance framework, we conduct regular risk assessments to identify and mitigate potential threats related to money laundering. Our risk assessment covers:
- Client Risk: We evaluate customer profiles, verifying sources of funds and identifying high-risk individuals or entities.
- Transaction Risk: We monitor for unusual transaction patterns, large cash transactions, and high-risk jurisdictions.
- Geographical Risk: We assess transactions involving countries with weak AML enforcement.
- Service Risk: We review the nature of services provided and their susceptibility to misuse for financial crime.
- Mitigation Measures: We implement strict KYC processes, enhanced due diligence (EDD) for high-risk cases, and ongoing staff training.
Nominated Officer & Training
Our appointed Nominated Officer, Mark Pack, is responsible for ensuring compliance with AML regulations and reporting any suspicious activities to the authorities. All staff members undergo AML training to stay informed of the latest regulations and best practices.
Further Information & Resources
For more details on AML compliance, visit:
Contact us at info@propertyscoutltd.co.uk
Review Date: 03 March 2025
Mark Pack
Nominated Officer, Property Scout Ltd