Real estate is a high-risk sector for money laundering: large values, time-pressured closings, cross-border parties, and layered ownership through SPVs or trusts. Agents, brokers, notaries, and lawyers are therefore expected to perform robust anti-money laundering (AML) screening before completion. This guide explains how to apply PEP and sanctions checks effectively and how to document results […]
Performing AML checks only at onboarding leaves a dangerous gap. Clients can be added to sanctions lists, take up new political roles, or appear in negative press at any time. Without ongoing monitoring, firms risk missing crucial changes until the next scheduled review. This article explains why continuous screening is essential, what sources to include, […]
Independent financial advisors and consultants play a critical role in guiding clients through investments, pensions, and wealth management. But like banks and auditors, they are subject to strict anti-money laundering (AML) obligations. This article explains how small advisory firms can meet AML screening and monitoring requirements without overwhelming resources, while keeping client trust intact. 1) […]
In today’s world, procedures relating to anti-money laundering have become part and parcel with correct and careful business practice. According to a study conducted by the United Nations Office on Drugs and Crime, it is estimated that, in 2009, proceeds generated by drug trafficking and organised crimes amounted to 3.6% of the global GDP, with […]
In simple terms, money laundering is the process in which criminals make dirty money appear to be clean. Criminals launder money for three reasons. First, money is the lifeblood of any organization which engages in criminal activity for financial gains. Money is required to maintain a good relationship with corrupt officials, a buy-out from situations […]
Why is monitoring important? Simply put, it’s the Law. The Anti Money Laundering and Prevention of Funding of Terrorism Regulations require that subject persons monitor customers and involved parties against Politically Exposed Persons (PEPs) lists and sanctioned lists for potential political exposure and sanctioned status. When are we obliged to monitor? If it is an […]