Anti-Money Laundering (AML) Policy

Last updated: 16th January 2026

Novacroft Properties Limited trading as Buckingham Properties is committed to preventing money laundering and terrorist financing in accordance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

1. Purpose of This Policy

This policy sets out how we identify clients, verify identity, and report suspicious activity in connection with property sales and lettings.

2. Who This Applies To

AML checks apply to:

• Property sellers
• Buyers
• Landlords
• Certain tenants (where required)

3. Customer Due Diligence (CDD)

We are required to verify identity before establishing a business relationship.

This may include:

• Photographic ID (passport or driving licence)
• Proof of address (utility bill or bank statement)
• Company documents (for corporate clients)

4. Source of Funds & Source of Wealth

Where applicable, we may request evidence of:

• Source of funds used in a property transaction
• Source of wealth

This may include bank statements, inheritance documentation, or sale proceeds.

5. Politically Exposed Persons (PEPs)

Enhanced due diligence will be applied where a client is identified as a Politically Exposed Person or presents a higher risk.

6. Reporting Suspicious Activity

If suspicious activity is identified:

• We may submit a Suspicious Activity Report (SAR)
• We are legally prohibited from disclosing this to the client

7. Record Keeping

AML records are retained securely for a minimum of 5 years in line with legal requirements.

8. Data Protection

All personal data collected for AML purposes is processed in accordance with UK GDPR and our Privacy Policy.