OFT fines Leeds-based estate agent

The OFT has fined Leeds-based Oliver James Estates and Land Agents Limited £2,000 for failing to register with the OFT.

All estate agents and some credit lending businesses need to register with the OFT as part of their responsibilities under the Money Laundering Regulations 2007.

Despite the OFT repeatedly contacting and advising Oliver James between November 2011 and February 2012 of the need to register, the business failed to do so.

Kate Pitt, OFT Deputy Director of Anti-Money Laundering, said: 'We will not hesitate to take action against any Estate Agents and Lenders that fail to register with the OFT.'

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