Why do so few agents file Suspicious Activity Reports?

Link to Anti Money Laundering feature

No one likes to admit it, but until recently the UK had been viewed as a soft touch by both UK and overseas criminals seeking to turn their illegally acquired wealth into legitimate cash.

Compared to other countries, the UK property sector had been both accessible and largely unregulated, while our high house prices, particularly in London and the South East meant that large sums could be laundered quickly and anonymously.

Recent scandals including the Panama Papers exposé have revealed just how elbow-deep we have been plunged into ‘dirty money’ – some £4.4 billion of laundered cash is thought to reside in London property alone.

Our housing stock is also seen as high status; one minute you’re a grubby, corrupt official in an unheard-of region of a distant Eastern European nation, the next you’re the owner of a stuccoed

... read more at: https://thenegotiator.co.uk/why-do-so-few-agents-file-suspicious-activity-reports/