EU ESTATES AGENTS ARE SO DIVERSE – FOLLOWING EU RULES IS TOUGH
February 1st, 2007
BY ALAN OSBORNA CENTRAL purpose of the European Union's (EU) second money laundering directive (sometimes called 2MLD amongst officials) that came into effect in 2003 was to extend to estate agents, along with other similar professions, the anti-money laundering (AML) controls until then had applied only to banks and one or two other financial institutions. The aim was well-meant and at the time seemed logical. But in some important ways the move is beginning to look more than a shade unrealistic. Certainly, estate agents in general have become subject to EU ...
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