Discover the all-in-one AML and CDD solution for your firm.
Protect your real estate business against money laundering
Regulators are becoming increasingly aware of money laundering vulnerabilities in the real estate sector. As a result, they are expanding their requirements worldwide.
Know Your Customer helps you protect your real estate business against the risk of hefty fines and personal liability, strengthening your internal controls and on-going monitoring procedures.
Bring your risk policies and procedures to life
Regulations require every member of staff to follow risk policies consistently. With Know Your Customer’s configurable risk engine and automated workflows, real estate firms can bring their risk-based approach to life, dynamically assign risk profiles to counterparts and ensure on-going compliance with all their client due diligence obligations.
Identify Ultimate Beneficial Owners (UBOs) globally
Before any real estate transaction, firms must verify true identity of each customer and the ultimate beneficial owner (UBO) of the property. Our AI-based UBO engine enables teams to access official company registries in real-time, investigate corporate structures and identify shareholders and UBOs across 123 jurisdictions globally.
Screen against AML watchlists on an on-going basis
A fundamental step in any client due diligence process is the screening of all individual and entity counterparts against recognised AML watch lists. Know Your Customer seamlessly integrates with leading AML providers, centralising all operations for maximum efficiency. Review potential matches, explore additional information from source links and exclude false positives with a click of a button.
Automate internal and external reporting
There is a better way to fulfil your AML reporting obligations. Easily build custom client due diligence reports to prove on-going compliance and in-built controls to internal stakeholders and regulators. Our Immutable Audit Trail tracks all details and review steps automatically in a concise record which can be easily consulted by team members and retains documentary evidence for auditors.
In July 2022, the Financial Action Task Force (FATF) released updated guidance on how to implement a risk-based approach for the real estate sector. The report puts a spotlight on what makes the risk of money laundering and terrorism financing particularly high for real estate practitioners and highlights the importance for the sector to increase its understanding of such risks.