Britain’s biggest estate agency group has been fined a record sum for failing to carry out proper money-laundering checks in the latest embarrassment for a sector dogged by falling sales.
Countrywide, whose 50 agency brands include Hamptons, Bridgfords and Bairstow Eves, was served with a £215,000 penalty by HM Revenue & Customs under regulations aimed at keeping dirty money out of Britain.
Countrywide’s profits halved last year as it struggled during the property slowdown. The group, which is also battling heavy debts, reported a 16 per cent drop in income from property sales and issued a string of profit warnings. The London-listed company publishes its annual results this week.
