Anti Money Laundering
From 1 January 2019 Real Estate Agents will be required to verify the identity of their clients in accordance with AML/CFT Legislation. This is called Customer Due Diligence (CDD). This means that Salespeople are now required to identify who their clients are/who they are acting for, for example, individuals, companies, trusts, government departments etc.

To obtain this information, your Salesperson will request more information from you than in the past, in order to verify your full name, date of birth and residential address by requesting information such as identity documents such as your Passport, Drivers Licence or Utility bill. Note: In some cases they will also have obligations to establish source of funds and wealth also.

This is a big change across the industry and we ask that you show understanding during this adjustment period.

For more info, click on the AML link on the bottom right hand corner of our website, or contact your preferred James Group Salesperson.
Similar blogs