Real estate agents are not subject to the provisions of the Anti-Money Laundering and Counter-Terrorism Financing laws being introduced worldwide. However, real estate transactions mainly go through a financial institution as transfers, loans, deposits or withdrawals.
Governments around the world are proposing fraud prevention guidelines to combat identity fraud and scams in the industry, which are to include a set of practices and procedures for agents to confirm the identity of vendors or their appointed representatives. This includes a list of possible fraud warning signs and a proof of identity checklist.
Our NameScan service provides a fast and cost-effective means to ensure your client is free of potential issues by providing full KYC checks for individuals and KYB checks for businesses.
Naturally, we offer full compliance with AML/CFT laws through ongoing checks, which even take regulatory changes into account as they happen.
Call us today to find out how we can help you avoid AML/CTF risk.