Our Anti‑Money Laundering Commitment
Keeping you safe and legal
At Marcus Reilly, we believe buying or selling a home should feel safe, transparent, and refreshingly stress-free. That means playing our part in protecting the property market from money laundering and financial crime — ensuring property transactions aren’t used to disguise illegal funds.
Anti-Money Laundering (AML) is something we take seriously, but hopefully can explain simply. Below is our plain‑English version of what the law requires us to do, and how we make it as smooth and pain-free as possible for you.
You’ll find a more detailed guide further down this page, including all the documents you may need and how to prepare them.
Why We Ask for AML Information
UK estate agents, together with solicitors and conveyancers, banks and lenders, and some letting agents, are legally required to follow the Money Laundering Regulations 2017. The law requires each organisation to independently carry out its own checks. Get ready — you will be asked for the same information several times!
None of us do this because we expect anything ‘dodgy’ from you — or anyone in the property chain; we do it because it keeps the whole system trustworthy for everyone.
What This Means for You
To comply with the law, we must carry out a few checks before we can market a property or agree a sale:
1. Verifying Your Identity (Customer Due Diligence)
We’ll ask for proof of who you are — usually a passport or driving licence — and something that confirms your address. This applies to buyers and sellers, and also to all joint owners or purchasers, plus anyone contributing funds.
(See our checklist of acceptable documents.)
2. Understanding the Source of Funds (Buyers Only)
If you’re buying, we need to understand where the money is coming from — savings, sale of another property, inheritance, investments, gifted deposits, and so on. This isn’t us being nosey; it’s a legal requirement to ensure funds are legitimate.
3. Extra Checks for Higher‑Risk Situations
For higher-risk situations (like overseas clients or unusual payment routes), we may perform “Enhanced Due Diligence.” We’ll always explain what’s needed and why.
4. Keeping Records (As Required by Law)
We retain AML records for a defined period. Rest assured, all your documents are stored securely and handled with strict confidentiality.
Reporting Obligations
We are legally required to report anything that doesn’t look quite right. We aren’t allowed to tell you if a report has been made — that’s part of the law — but rest assured, this only happens in extremely rare circumstances.
