In February 2023, the Australian Federal Police busted a $10b money laundering ring. At the centre of this bust were nine criminals who amassed an eye watering number of luxury and commercial properties amongst many other items.
With Tranche 2 on the horizon, real estate professionals are educating themselves on AML and KYC.
Join Donna McMillan, Compliance Manager, Bayleys Real Estate and Angus Hook, First AML with REIV to hear:
- A review of how real estate agents were used to unknowingly clean money gained from sex trafficking and drug cartels.
- Red flags to watch out for in real estate / property transactions so you’re not next.
- War stories on how to prepare for Tranche 2 as a real estate agency.
Watch the video above or on YouTube
About First AML
This article is not only written from the perspective of a technology provider, but also from the lens of compliance professionals. Prior to releasing Source, First AML’s orchestration platform, we processed over 2,000,000 AML cases ourselves. Understanding the acute problem that faces firms these days as they try to scale their own AML, is in our DNA.
That's why Source now powers thousands of compliance experts around the globe to reduce the time and cost burden of complex and international entity KYC. Source stands out as a leading solution for organisations with complex or international onboarding needs. It provides streamlined collaboration and ensures uniformity in all AML practices.
Keen to find out more? Book a demo today!