Coadjute Steps Up Fight Against Money Laundering in UK Property Market, Partnering with Broadcaster Phil Spencer
Leading proptech firm Coadjute has today announced a major strategic shift towards full-service anti-money laundering (AML) compliance, positioning the fight against financial crime at the heart of its future growth. As part of this renewed focus, the company has appointed one of the UK's most recognisable and trusted property broadcasters, Phil Spencer, as an ambassador.
Spencer, best known for his two decades presenting Channel 4's Location, Location, Location and other prime-time property programmes, has become one of Britain's most respected voices in the housing market. With more than 20 years on television championing buyers, sellers and industry standards, he is widely regarded for his commitment to professionalism, transparency and consumer trust in property transactions.
The announcement comes as the UK property market faces mounting scrutiny over financial crime. The Government's National Risk Assessment has identified property as a high-risk sector for money laundering, with an estimated £10bn being laundered every year through the UK property sector. Regulators have increased enforcement activity in recent years, with estate agents and conveyancers under growing pressure to demonstrate effective oversight of source-of-funds and beneficial ownership.
Coadjute says much of the market still relies on basic digital ID checks and screening tools, which confirm identity but do not necessarily establish where money has come from or whether transactions meet the legal test of a risk-based approach.
"Screening is not the same as anti-money laundering," said Dan Salmons, CEO of Coadjute. "Regulation requires firms to understand and manage risk — not just confirm someone has a passport and a bank balance.
"Property is attractive to criminals because it is high-value, complex and historically fragmented. If compliance is treated as a box-ticking exercise, gaps emerge and those are the gaps bad actors exploit."
Coadjute's compliance platform combines technology with specialist oversight to manage identity verification, source-of-funds analysis, enhanced due diligence and ongoing monitoring within a structured governance framework. The company says its strategic shift reflects a broader ambition: to move the sector beyond fragmented checks towards consistent, auditable compliance embedded at the heart of property transactions.
Phil Spencer said: "Buying or selling a home is one of the biggest financial decisions most people will ever make. Trust in that process is essential. Strengthening compliance isn't about red tape, it's about protecting consumers and the integrity of the market."
Backed by major lenders and industry stakeholders, Coadjute says it plans further announcements in the coming months as it expands its compliance capabilities.
Salmons added: "As government looks to modernise the homebuying process, strengthening AML and data sharing must be central to reform. If we want faster transactions and greater confidence, we need stronger foundations at the start."
