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Scrap money laundering registration scheme for Estate Agents

Comment 10th July 2010

Get rid of the requirement for Estate Agents to be on the "anti money-laundering" register held by the Office of Fair Trading.

Why does this matter?

Every Estate Agent now has to pay to be on a "register" run by the Office of Fair Trading, supposedly to safeguard us against money laundering.

There is no evidence that this will make a jot of difference to money laundering.  It is simply another example of government getting in people's hair, and is more about creating jobs for civil servants that about making Britain a better place.

Getting rid of the requirement would reduce bureaucracy and government interference and allow the OfT to reduce the number of staff it employs.

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