In order to increase the awareness of real estate agents about the anti-money laundering system, the ITMCFM, with the support of the Federal Financial Monitoring Service, has developed a video "The Main Aspects of Fulfillment by Real Estate Agents of the Requirements of AML/CFT Legislation"
Historically, property has always been the subject of increased interest in terms of illegal income investments. In almost all countries of the FATF Global Network, real estate transactions are classified as a high level of risk, which, in its turn, affects the real estate sector assessment. This type of activity is traditionally considered as one of the most vulnerable to the risks of laundering criminal proceeds.
In the Russian Federation, the subjects of AML/CFT legislation include legal entities and individual entrepreneurs registered as business entities engaged in intermediary activities in the real estate market.
The video contains information about the international experience of the countries of the FATF Global Network and national AML/CFT legislation, the requirements of AML/CFT regulatory legal acts, the main duties of a real estate agent in the organization and implementation of internal control, execution of their job responsibilities, as well as the procedure for appointing special officials.
Thanks to the video, the viewer will get information about the procedure for registering real estate agents with Rosfinmonitoring and connecting to a Personal account on the Rosfinmonitoring website, the procedure for sending suspicious transaction reports, as well as about ML/TF risks and measures to mitigate them.
We believe that the information provided will be interesting and will help to minimize the risks associated with laundering of proceeds from crime during real estate transactions.
