Anti-Money Laundering.
Risk & Response Policy.
Precedent Estate Management Ltd is committed to implementing robust internal control systems and procedures to prevent its services from being used for the purposes of money laundering or terrorist financing.
Precedent Estate Management Ltd is committed to implementing robust internal control systems and procedures to prevent its services from being used for the purposes of money laundering or terrorist financing.
Scope
While residential block management is not considered a regulated activity under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, Precedent applies controls consistent with good practice and proportional risk management.
Policy Objectives
The objectives of this policy are to:
- Deter and detect money laundering activities
- Comply with all relevant statutory and regulatory obligations
- Maintain the integrity of the company and protect clients’ interests
Customer Due Diligence
Client identification and verification processes are undertaken, where appropriate, at the start of a new instruction and on an ongoing basis. This may include:
- Verifying the identity of instructing directors, officers, or authorised representatives
- Confirming company registration details and beneficial ownership, where applicable
- Requesting written confirmation of authority to act
- Reviewing the source and purpose of funds being managed
- Conducting checks against relevant sanctions lists
Risk Assessment
Precedent Estate Management undertakes a risk-based approach to money laundering controls, assessing the nature and purpose of each client relationship and instruction. Enhanced due diligence may be undertaken where risk factors are identified, such as overseas companies, unusual corporate structures, or payment arrangements.
Internal Controls
Procedures include:
- Segregated client accounting
- Monitoring and reviewing transactions for unusual activity
- Documented authorisation and approval controls for payments
- Staff training on AML awareness and reporting requirements
- Retention of appropriate records in accordance with statutory obligations
Suspicious Activity
If any staff member knows or suspects that a transaction involves money laundering or terrorist financing, the matter is escalated immediately to the relevant nominated officer for further assessment and, if appropriate, disclosure to the National Crime Agency (NCA) in accordance with the Proceeds of Crime Act 2002 and associated legislation.
Training
Staff receive periodic training to ensure understanding of anti-money laundering responsibilities, reporting requirements, and the company’s commitments under this policy.
Review
The company’s anti-money laundering policy and procedures are reviewed regularly to reflect changes in statutory obligations, regulation, or operational risk. Further information is available upon request.
Policy reviewed January 2026.