Many estate agents believe that running a digital ID check means they are AML compliant. It doesn't.
In the first episode of AML Uncovered, Phil Spencer speaks with Coadjute CEO Dan Salmons about the gap between verifying identity and genuine compliance. Covering what an ID app can and cannot tell you about a transaction, the wider obligations set out in HMRC's guidance, and where responsibility sits when an audit comes.
Please note: since filming, HMRC's July update increased the number of risks agents are required to assess from 34 to 39.
Want to understand what this means for your business? Speak to a member of the Coadjute team.