Industry Update

New AML Regulations for Letting Agents – Should I be running checks on my current landlords?

In May, new Anti-Money Laundering (AML) regulations for letting agents will come into force

Mar 24, 2025

In May, new Anti-Money Laundering (AML) regulations for letting agents will come into force, bringing major compliance responsibilities. However, there is a glaring issue: the government has not provided clear guidance on what you need to do to stay compliant.

This lack of direction does not mean you can afford to wait and see. If anything, it makes it even more critical to ensure you are doing everything possible to avoid potential penalties. Failing to comply could result in significant fines or even criminal prosecution.

Why Your Existing Landlords Must Be AML Checked

A common misunderstanding among letting agents is that AML checks apply only to new landlords. In reality, this is far from the truth. Even your existing landlords could put you at risk.

Why? Because you are in an ongoing financial agreement with them. Every month, you pass rental payments from tenants to landlords, meaning you are actively facilitating financial transactions. If one of your landlords were ever found to be involved in illegal activity, you could be held responsible for not conducting the appropriate due diligence.

The authorities will not accept ignorance as an excuse. If your business is investigated, you will be expected to prove that you took every reasonable step to ensure compliance. If you haven’t, the consequences could be severe.

No Clear Guidance Means Maximum Risk

The most frustrating part of the upcoming regulations is that the government has not issued specific instructions on exactly what letting agents must do. This leaves a dangerous grey area—one that enforcement officers can interpret however they see fit.

Without a defined process to follow, the best approach is to go above and beyond to prove that you have taken compliance seriously. Waiting until investigations start is not an option—by then, it will be too late.

How We Can Help You Stay Protected

At Blinc UK, we offer a comprehensive AML service that ensures your business is protected from these risks.

Our solution helps you:

Verify landlords properly – covering all necessary due diligence checks
Reduce your exposure to fines – ensuring you have taken the right steps
Save time and hassle – avoiding the stress of figuring it out yourself

With authorities cracking down harder on money laundering in the property sector, letting agents must be proactive. Compliance isn’t optional—it’s essential for protecting your business.

Don’t Wait Until It’s Too Late

If you haven’t started reviewing your AML compliance process, now is the time. Get in touch today to find out how we can help you stay compliant and protect your business.

Book a demo today

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