Over 30 Percent of U.K. Estate Agents Struggling to Comply With AML Law: Regulator

By Brian Monroe

Nearly a third of estate agents in the United Kingdom have yet to affirm with their regulator that they have implemented anti-money laundering programs a year after the deadline to do so. While just under 6,600 estate agents-including residential and commercial estate agencies, relocation agents and property location services-have registered with the U.K.'s Office of Fair Trading (OFT) since a January 2010 deadline, at least 3,000 of the businesses have yet to do so, the organization said in a statement to Compliance Advantage/ Friday. The agency is "still working to identify" the companies that need to register, said OFT press...