Property industry urged to remain vigilant this festive season, as reduced working hours and fewer staff increase potential for AML mishaps

Credas Technologies, the leading identity verification checks provider, has urged those working within the UK property sector to remain vigilant over the festive period, as a reduced workload, shorter operating hours and lower staff levels could provide criminals with a better chance of bypassing AML checks and infiltrating the market. 

Credas Technologies surveyed 752 UK property professionals to ascertain their thoughts on the impending festive season when it comes to the workplace, whether they will be working shorter hours, with fewer staff and how it will impact their performance. 

The survey commissioned by Credas Technologies found that just 43% of those working within the industry think they will be busy right through until 2023. 

57%, however, believe that their workload will reduce as the festive season approaches. 

What’s more, 70% stated that they would be operating reduced working hours during the festive period. 

59% also stated that the Christmas period would mean operating with a reduced staff level. 

Despite this, very few of those surveyed believe that these factors will affect them where their professional performance is concerned. 

In fact, just 12% said that reduced working hours and staff levels would impact their ability to execute operationally. 

Tim Barnett, CEO of Credas Technologies, said:

“With the festive season fast approaching, many of us working within the property sector will be under pressure to get those final sales over the line before the year is out. 

At the same time, reduced staff levels in the run up to Christmas can add to this pressure as we find ourselves picking up the slack for those with a surplus of annual leave to take. 

These factors can understandably lead to some unintended oversights, particularly where AML compliance checks are concerned. 

However, it remains paramount that we maintain a high level of vigilance and compliance with regard to our AML responsibilities, to prevent any criminal entities from taking advantage of the seasonal market slowdown.”