– This month’s blog at Matthews Benjamin Estate Agents looks at the new AML regulations and how they could affect landlords.
On the 14th May 2025, the UK government enforced new Anti-Money Laundering (AML) regulations that expand the compliance obligations for landlords and letting agents.
At Matthews Benjamin Estate Agents, this month’s blog looks at the new Anti-Money Laundering laws and how these new rules could affect you. For information, don’t hesitate to contact our team.
The changes have been made to close loopholes in the rental sector due to criminal exploitation. Criminals often try to use the property market to move or conceal money.
By removing the threshold, the Government ensures that all agents are required to screen for sanctioned individuals.
Until now, landlords only needed to carry out AML checks if a tenancy was worth more than €10,000 per month (around £8,300). This meant that AML rules were largely a concern for high-end lettings and corporate tenants.
Now, every landlord and letting agent must conduct thorough identify verifications and final sanctions checks on both tenants and landlords before entering tenancy agreements.
Under the new rules, landlords and letting agents must:
Failure to comply with the new AML rules can lead to serious legal and financial consequences. Ignoring or skipping required checks can lead to hefty fines, business restrictions, or even criminal charges.
Authorities are actively investigating and fining those who fail to follow the new regulations. If you are unsure about any part of the process, it is recommended you seek professional advice. Staying compliant protects your business and reputation.
If you require further advice regarding the new Anti-Money Laundering laws, don’t hesitate to contact our team at Matthews Benjamin. We are on hand to discuss any queries you may have.