(pictured), chief executive of SmartSearch.
Dobson believes that this provides an opportunity to modernise customer onboarding, with the intention to improve due diligence processes and help reduce money laundering activity.
Dobson said: “The launch of this new task force for the conveyancing sector is a really positive move, particularly as one of their aims is to formulate and agree due diligence procedures.
“Top of the list of priorities for the task force should be stemming the tide of money laundering and financial fraud that has swept through the property market since the outbreak of the coronavirus pandemic last year.”
Dobson believes that this issue can be resolved through accelerating the move to electronic verification (EV) across the conveyancing sector for onboarding new customers and complying with Know Your Customer (KYC) guidance.