UK: AVOIDING MONEY LAUNDERING SUSPICION WHEN APPLYING FOR A MORTGAGE

On 30 June, What Mortgage carried an article saying that fraudulent mortgage applications increased by 5% in 2019 and it is reported that 13% of adults believed it was ‘reasonable’ to exaggerate income when filling in the forms – so lenders and AML services are on high alert for any suspicious activity. It says that, to help mortgage applicants understand more about what to consider during their application to avoid money laundering doubt Smart Search has offered its tips on what to look out for. The article lists these tips.

https://www.whatmortgage.co.uk/feature/avoiding-money-laundering-suspicion-applying-mortgage/

 

 

 

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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