Estate agents have been subject to Government money laundering regulations since 2007. In 2009 a register was established that compelled estate agents to formally list themselves as bona fide and in so doing, confirming that they comply with the regulations.

There was much alarm at the time in that around half of all UK agents failed to register. Prosecutions followed.

This week, the OFT has made the register public in a move to shame agents into complying.

Beware. It is remarkable that only 6,742 businesses are so far registered out of approximately 10,000 that operate across the country. Many so called online estate agents have not registered despite the sanctions that can be imposed and the three year period in which they have been given to do so.

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