What are real estate sector anti-money laundering procedures?

Real estate sector anti-money laundering procedures refer to the specific measures and protocols put in place by financial institutions and real estate businesses to prevent and detect money laundering activities within the real estate sector. These procedures aim to identify and mitigate potential risks, verify the legitimacy of transactions, and comply with relevant anti-money laundering regulations.

What is a risk-based approach in anti-money laundering?

A risk-based approach in anti-money laundering involves tailoring AML efforts based on the level of risk presented by each transaction or client. By conducting risk assessments, financial institutions and businesses can identify high-risk areas and allocate resources effectively. This approach allows for targeted and efficient AML measures, focusing on the most significant threats to prevent money laundering and other illicit financial activities.

What is enhanced due diligence for high-risk clients?

Enhanced Due Diligence (EDD) is a more extensive and in-depth process of gathering information about high-risk clients to better assess potential risks associated with their transactions. EDD involves obtaining additional information about the client's source of funds, anticipated transactions, and beneficial ownership. By conducting enhanced due diligence, businesses can enhance their understanding of high-risk clients and ensure compliance with AML regulations.

Why is a risk-based approach important in anti-money laundering for the real estate sector?

A risk-based approach is crucial in anti-money laundering for the real estate sector due to its vulnerability to money laundering activities. The real estate sector is attractive to criminals seeking to hide the origins of illicit funds. By adopting a risk-based approach, financial institutions and real estate businesses can prioritize their efforts and resources to address the most significant threats effectively. This allows for a more targeted and proactive AML strategy to combat money laundering and maintain the integrity of the real estate industry.

Anti Money Laundering list: Reviews & Ratings

Automated KYC

6 Review

smartKYC is a multilingual search and analysis platform that automatically surfaces risk-relevant and contextually insightful intelligence on your third party at a fraction of the time and cost of a human equivalent. Whether for robo-onboarding, mass remediation projects or enhanced due diligence, smartKYC not only locates relevant intelligence with…

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ForensicCloud

6 Review

ForensicCloud provides real-time (big) data analysis of networks, transactions and risk signals. Multiple detection mechanisms can be combined. The results are presented in an easily accessible manner and within an understandable context. As a consequence, companies and institutions can detect these risks early and take immediate actions, which are…

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RISMA Anti Money Laundering Software

6 Review

The Anti-Money Laundering (AML) software makes it possible to organise and document your organisation’s procedures and responsibilities within the area of anti-money laundering. The software produces a gap-analysis which shows areas that lack compliance and needs to be looked at. Also, it enables you to document that you are compliant with the law on…

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Quantifind

6 Review

The SIGNUM Platform: Quantifind's explanatory analytics platform helping customers structure their unstructured data.

Tookitaki

6 Review

Tookitaki combines machine learning, distributed systems, and business expertise to create the building blocks of sustainable compliance management.

WiseBOS AML

6 Review

WiseBOS AML is a solution against loney laundering.

Unit21

6 Review

Unit21 provides a suite of applications: Transaction Monitoring, Case Management, and KYC, for companies to manage their risk and compliance. The platform is designed to empower non-technical teams to model complex logic.

Actimize AML Essentials

6 Review

Actimize AML Essentials, a cloud-based offering that is built upon our proven, industry-leading, end-to-end anti-money laundering platform addresses the challenges of regional and community financial institutions.

AMLtrac

6 Review

AMLtrac is our award-winning Anti Money Laundering Software and counterterrorist financing solution. It is a complete, multi-branch, multi-layered, language independent solution for banks and other financial institutions.

EastNets

6 Review

EastNets is a leading global provider of compliance and payments solutions for the Financial Services industry.

KYC-Chain

6 Review

An all-in-one workflow solution to verify your customers’ identities, streamline a KYC on-boarding process and manage the entire customer lifecycle.

Protecht.ERM

6 Review

Protecht helps organisations through deep understanding, monitoring and management of risk. We provide the complete risk solution—comprised of world-class enterprise risk management, compliance, training and advisory services—to government organisations, key regulators and businesses of all sizes across the world. For more than 20 years Protecht has…

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Avid AML

6 Review

We believe cutting edge technology can take the pain away from Anti-Money Laundering.Avid AML helps you zero in on what needs focus without stress and increased compliance costs.Avid AML removes clutter so you can manage your Anti-Money Laundering needs with simplicity.We believe in making AML compliance easy and affordable so firms can protect their…

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Regtank

6 Review

Regtank is the leading provider of a one-stop compliance solution, serving to revolutionize the compliance landscape. Adopting a risk-based approach (RBA) incorporating both KYC and KYT into a single consolidated platform, Regtank has innovated a comprehensive and advanced AML/CFT smart risk assessment engine that can automatically classify the risk of…

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SimpilRisk

6 Review

SimpliRisk gives you the right tools for transaction monitoring, risk rating, reporting, watch list, FinCEN filing, and due diligence.

Uppsala Security

6 Review

Uppsala Security built the first crowdsourced Threat Intelligence Platform known as the Sentinel Protocol, which is powered by blockchain technology. Supporting the framework is a team of security analysts and researchers, who aim to deliver a safely interconnected experience with a suite of solutions that meet the crypto security needs of organizations…

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KYC Hub

6 Review

KYC Hub simplifies identity and business verification and AML compliance. KYC Hub's integrated set of tools make compliance seamless, automated and cost effective.

Merlon

6 Review

Automated Adverse Media Investigations for Anti-Money Laundering (AML), Know Your Customer (KYC), and Due Diligence, radically simplifying and accelerating the identification of high-risk people and entities. Merlon automates the organization and screening of relevant negative news articles, improving risk detection while enabling compliance analysts to…

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ML Verify

6 Review

ML Verify is a platform for AML/KYC compliance.

Pliance

6 Review

Pliance is an API to automate Anti-Money Laundering (AML) processes. Perform automatic KYC/AML screening of your customers, through the interfaces and tools you prefer to use.