With the rise in tenant and property rental frauds, in particular those involving referencing and personal information, it has never been more vital that proper background checks are completed on new tenants.
A background check from REPORTS4™ can fully explore a prospective tenant's online footprint, highlighting lifestyle, associations and other information that can risk financial damage to the landlord and reputational damage to your business.
AML compliance
New Anti-Money Laundering (AML) and Financial Sanctions Regulations (FSR) apply to letting agents from 14 May 2025, significantly expanding compliance obligations. 2023 saw a 49% increase in anti-money laundering fines for letting agents.
Key requirements include
- Reporting to the Office of Financial Sanctions Implementation (OFSI)
- Customer due diligence on landlords and tenants
- Ongoing monitoring and record keeping