AML/CTF for Real Estate agents
The use of real estate is an established method of money laundering internationally. Criminals buy high-value goods such as real estate as a way of laundering or concealing funds obtained through criminal activity. Despite the fact that in many countries real estate agents are not subject to the provisions of the AML/CTF regulation, almost all real estate transactions go through a financial institution, for example, as loans, deposits or withdrawals. To prevent financial crime, it is important real estate agents to have systems in place to establish the beneficial ownership of the clients as well as the origin of the funds that are used to purchase real estate.
What do you need to do?
- Assess the ML/TF risks your business is facing
- Develop your AML/CTF Program
- Implement the procedures from your AML/CTF Program
How can bronID help?
KYC and KYB
Identity Verification solution that scales with your business.
- KYC and KYB solution that supports all organisation types including verification of individuals, companies, trusts and associations
- One solution, global coverage
- Three integration options for full flexibility: Self-serve Portal, White-label Forms and API
Develop compliant AML/CTF policies, procedures and controls.
- Use our Risk Assessment tool to assess your risks of money laundering and terrorism financing
- Our AML/CTF Programs include AML/CTF procedures and controls that are customised to your circumstances
- Upgrade to tools that will help you execute your AML/CTF Program with ease
Compliance as a service
Stay on top of the AML/CTF requirements.
- Always have someone to ask about the best practices in AML/CTF and how you can implement them to fit your circumstances
- Get help with executing your AML/CTF procedures and controls
- Stay informed about the regulatory changes and requirements