As one of its final acts before its responsibilities were dispersed to other agencies, the U.K.’s Office of Fair Trading (OFT) fined three estate agents a combined £246,665 for “widespread” failures to comply with anti-money laundering rules.
The OFT ceased operations 31 March, as part of a government reorganization. Before it was shuttered, the OFT levied the fines against the three agents for failing to comply with the U.K.’s 2007 Money Laundering Regulations. The fines were handed down earlier in the month, according to the OFT’s statement.
