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Our ID checks help reduce the burden of your risk management obligations by quickly verifying client identity for a swift onboarding experience.

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Lifestyle changes quoted as primary reason for the upsurge in buyer appetite.

Explore more: https://propertyindustryeye.com/almost-four-in-ten-properties-are-selling-for-more-than-the-asking-price/

Almost four in ten properties are selling for more than the asking price – Property Industry Eye Almost four in ten properties are selling for more than the asking price September 20, 2021September 20, 2021 | Marc da Silva Email to a friend Back to Homepage Post navigation NextEstate agent receives prestigious Women in Business Award Print The number of homes selling for asking price or above r...

"Fraud, scams and other financial crimes are out of control in the UK market."

Explore the story here: https://www.thetimes.co.uk/article/why-brits-fall-for-fraud-were-too-trusting-says-natwests-canadian-boss-wsnq63qrb

Why Brits fall for fraud: we’re too trusting, says NatWest’s (Canadian) boss You could point the finger of blame for rising bank fraud at Google. It has made it easier for criminals to advertise fake savings deals.Or you could blame the

Our proof and source of funds checks can help give you peace of mind by quickly collating the vital bank information you need to verify the presence and provenance of funds.

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"According to the Financial Conduct Authority, Faithfull laundered £2.5m as part of a trans-national organised crime group for more than 12 months with the proceeds of at least seven professionally run overseas investment frauds."

Read the story here: https://www.investmentweek.co.uk/news/4036891/company-director-jailed-gbp-money-laundering-fraud

Company director jailed for £2.5m money laundering fraud A company director has been sentenced to almost six years imprisonment for money laundering as part of a trans-national organised crime group.

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As bank account fraud rises, businesses are keen to implement new technologies to successfully identify and prevent fraud.

Read more here: https://www.todaysconveyancer.co.uk/main-news/uk-bank-account-25-year-year/

UK bank account fraud 25% up year on year | Today's Conveyancer Experian are warning of a spike in bank account fraud as research shows a 13% increase in Q2 compared to Q1 and 24% against the same time last year

Insightful research by the SRA evaluating the adoption of legal technology over the past 12 months.

A ‘lack of financial capital to invest in technology’ was chosen as the top barrier for both adopters and non-adopters of legal technology, especially SME's.

As an AML compliance provider for SME's, Veriphy is committed to providing quality Regtech that is accessible and affordable for small businesses.

Access the research here: https://www.sra.org.uk/globalassets/documents/sra/research/full-report-technology-and-innovation-in-legal-services.pdf?version=4a1bfe

www.sra.org.uk

The property market is proving itself to be fairly resilient with a strong pipeline predicted for conveyancers this coming autumn.

Read more here: https://www.todaysconveyancer.co.uk/main-news/strong-pipeline-predicted-for-conveyancers-into-the-autumn/

Strong pipeline predicted for conveyancers into the Autumn | Today's Conveyancer Property website reallymoving have predicted a strong property market into the Autumn as activity in July fuels future conveyancing work

The Prime Minister has announced new funding for the National Crime Agency to help clamp down on financial crime and fraud.

“the threat posed by fraud to our economy and the public is one we are determined to address, working with the public and industry to prevent the crime and by disrupting, pursuing and bringing to justice the most harmful."

Read more here: https://thenegotiator.co.uk/prime-minister-reveals-new-cash-to-clamp-down-on-money-laundering/

Prime Minister reveals new cash to clamp down on money laundering Estate agents can expect greater scrutiny of their anti-money laundering procedures after Boris ...

Ensuring AML Compliance for Estate Agents.

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HMRC reminds agents of the importance of timely AML registration after issuing financial penalties on three property-related firms.

Read more here: https://propertyindustryeye.com/agent-issues-statement-in-response-to-anti-money-laundering-fine/

Agent issues statement in response to anti-money laundering fine Brothel case agency has anti-money laundering registration cancelled while three property-related firms receive fines.

The enforcement of AML regulations are a key priority for watchdogs as fines reach over $1bn in just the first half of 2021.

Read more: https://www.cityam.com/global-anti-money-laundering-fines-surge-as-regulators-dole-out-tougher-penalties/

Global anti-money laundering fines surge as regulators dole out tougher penalties Global anti-money laundering (AML) fines at banks and financial services firms soared to $2.2bn (£1.6bn) last year, fives times higher than in 2019, as regulators have stuck to tougher lines on the industry, according to reports.

The average price of property coming to market in August fell by 0.3%, a drop of £1,076, to £337,371.

It has been suggested this is due to the ending of the stamp duty holiday and the subsequent fall in demand for bigger homes.

Read more here: https://www.bbc.co.uk/news/business-58206513

House prices fall for first time this year Average prices dropped by 0.3% in August, says Rightmove, as demand for bigger houses shrinks.

Fantastic piece by Armalytix on the transformative power of Open Banking within AML. ✅

"Technology is increasingly able to support firms to ensure they are compliant with money laundering legislation by delivering smart access to the right information that helps solicitors identify the information they need to do their job."

Read the full article here: http://ow.ly/su8M50FROXJ

Open Banking: Here to ease the growing AML compliance headache for legal professionals? | Today's Conveyancer Open banking creates opportunities for conveyancers to better understand their clients and conduct know your customer more effectively

Fast Digital Onboarding for Superior CX.

Our online ID checks help reduce the burden of your risk management obligations by quickly verifying client identity for a swift onboarding experience.

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Interesting research from estate agents Keller Williams detailing that approx. £68.8 billion has been transacted so far in 2021.

Read more here: https://www.estateagenttoday.co.uk/breaking-news/2021/8/revealed--how-much-stamp-duty-holiday-property-has-sold-in-2021

Revealed - how much stamp duty holiday property has sold in 2021 An estate agency has calculated precisely how much residential property has been sold so far this year, fuelled by the stamp duty holiday.

Back to 'normal?'

Recent research shows transaction volumes falling as the Stamp Duty holiday winds up.

Read more here: https://propertyindustryeye.com/ending-of-the-stamp-duty-holiday-indicates-return-to-normal-housing-market-activity/

Ending of the Stamp Duty holiday indicates return to ‘normal’ housing market activity Latest analysis shows effects of the stamp duty holiday on London and the UK housing markets

A major independent study into innovation in the legal sector has revealed that a majority of law firms are making increasing use of day-to-day technology to improve internal processes.

Learn more here: https://www.todaysconveyancer.co.uk/main-news/firms-introduced-new-technology-last-12-months/

1/3rd of firms introduced new technology in the last 12 months | Today's Conveyancer A report commissioned by the Solicitors Regulation Authority has identified that the adoption of technology in legal in on the increase

Biometric ID can drastically shorten the time it takes to onboard new clients.

Learn more about the benefits of implementing technology within the conveyancing process: https://www.todaysconveyancer.co.uk/main-news/digital-transformation-conveyancing/

The Digital Transformation of Conveyancing | Today's Conveyancer Managing Director of Enact Conveyancing, Ben Carroll discusses the future of conveyancing post covid-19 pandemic and the rise of e-conveyancing

Flexible, Powerful and Simple AML Compliance Solutions.

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Make sure you understand the fundamentals of money laundering regulations to protect your business.

Download our free AML guide today: https://mailchi.mp/veriphy.co.uk/the-pillars-of-aml-compliance-ebook-download-your-free-copy-today

The SRA has fined over 13 firms in the past few weeks due to inadequate AML procedures.

The series of fines illustrates a worrying lack of understanding around responsibilities when it comes to anti-money laundering.

Read the story here: https://www.todaysconveyancer.co.uk/main-news/law-firms-sra-firing-line-aml-failures/

Law firms in SRA firing line over AML failures | Today's Conveyancer A number of law firms have failed to properly comply with the money laundering regulations misunderstanding the nuances of know your customer

A Quick & Secure Alternative to Chasing Bank Statements.

Our checks make client convenience a priority and removes the need for you to waste time analysing transactions by highlighting all the key bank account data you need within one report.

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Met police seize nearly £180m of bitcoin.

“While cash still remains king in the criminal word, as digital platforms develop we’re increasingly seeing organised criminals using cryptocurrency to launder their dirty money."

Explore the story here: https://www.theguardian.com/technology/2021/jul/13/met-police-bitcoin-money-laundering-cryptocurrency

Met police seize nearly £180m of bitcoin in money laundering investigation Seizure follows confiscation of £114m of the cryptocurrency in June

The FCA has warned various retail banks that they must do more to stop money laundering.

Explore the story here: https://www.thetimes.co.uk/article/fca-warns-retail-banks-over-money-laundering-b6g9p23vb

FCA warns retail banks over money laundering The City regulator has warned bosses at Britain’s biggest retail banks that they must do more to stop money laundering or face personal consequences for failing to comply with the rules.In a letter to

"Two men charged with drug trafficking and money laundering in Jersey."

Read the story here: https://www.itv.com/news/channel/2021-07-17/two-men-charged-with-drug-trafficking-and-money-laundering-in-jersey

Two men charged with drug trafficking and money laundering in Jersey | ITV News 30-year-old Nicholas Whitcombe from Birkenhead and 31-year-old Anthony Dryden from Jersey were arrested following a long running investigation. | ITV News Channel

FCA issues warning to retail banks over Anti-Money Laundering.

“Retail banking is a high-risk sector for illicit financial crime activity, particularly in today’s climate, where the increase in both online banking and remote working has made money laundering even harder to detect. "

Read more here: https://ibsintelligence.com/ibsi-news/fca-issues-warning-letter-to-retail-banks-over-anti-money-laundering/

FCA issues warning letter to retail banks over Anti-Money Laundering Retail banks have been issued a warning by the Financial Conduct Authority (FCA) about continuing weaknesses and failings surrounding

"KYC and AML processes are not nice to haves, but need to haves; they are absolutely necessary for the future prosperity of the crypto industry."

Read more here: https://www.techradar.com/news/kyc-is-essential-especially-within-crypto

KYC is essential, especially within crypto Not a "nice to have" but a "need to have"

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