AML Compliance in Property Services: Why It Matters for Field Service Teams
If you're considering to start a property management business or are already managing real estate, there's one crucial aspect you should know: AML compliance. The spread of money laundering goes much beyond banks.
Real estate transactions have become an increasingly popular way to conceal and legitimately transfer illicit funds. If you don't have the proper checks in place, your company might take part in criminal activity.
The real estate sector deals with high-value transactions and complicated ownership structures, which makes it a prime target for money laundering. Governments are enforcing AML rules, and every participant, even the field service team members, are accountable for conformity. It's not only about avoiding penalties. It's about ensuring your company's security and contributing to a more secure property market.
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