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ArticlesAuthor MargheritaIndustry Newskyc-amlReal Estate

Money laundering in the real estate sector

By February 26, 2018May 9th, 2023No Comments1 min read

In this article, Chris Skinner explores the impact of real estate investments on money laundering activities.

Interestingly, he remarks how “research by anti-money laundering specialists Fortytwo Data shows nearly four in 10 (37%) of all suspicious activity reports (SARs) across the entire legal sector relate to either residential or commercial conveyancing”.

After comparing the perceived risk of using cryptocurrencies to launder illicit funds with the actual impact of money laundering through real estate investments, Skinner concludes: “In other words, the $1.6 trillion of money being laundered every year by criminals is far more likely to wash its way through your local estate agent than the cryptocurrency network”.

At Know Your Customer, we follow real estate trends and regulations very closely due to the relevancy of the sector to our business.  “We are seeing a marked increase of interest in our integrated KYC and anti-money laundering platform from real estate agents and auction houses”, our CEO Claus Christensen commented recently.

Last updated on May 9th, 2023 at 09:44 pm

Maggie Maspero

Maggie Maspero

Margherita Maspero is a marketing expert with ten years of experience in marketing strategy and brand development at international RegTech companies across Europe and Asia. Prior to joining Know Your Customer, Margherita held various positions building brands and driving commercial growth through effective marketing strategies at fast-growing B2B start-ups and scale-ups in London, Dublin and Milan. A graduate of the University of Milan, Margherita holds a Master’s from University College London (UCL).