Farming and Property Bulletin – May 2018

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into effect on 26th June 2017 and now apply throughout the UK meaning farmers buying and selling land need to be prepared for increased security checks during these transactions. The Regulations have resulted in a tighter regime of identity checking for property transactions to reduce the potential opportunities for criminal organisations to fund terrorist activity or launder money.

May 2018