Maestro-Solutions for
Estate Agents/Realtors
Real estate is the new front line for Anti-Money Laundering (AML).
Challenge
Estate Agents/Realtors have been co-opted into the campaign against money laundering. This means that they are required to implement and operate a comprehensive AML regime despite facing unique challenges:
- AML Systems – existing AML systems are designed for Financial Services and not for Estate Agents/Realtors
- Cost Constraints – Estate Agents/Realtors don’t have deep pockets to pay for expensive AML systems or staffing
- AML Expertise – unlike Financial Services, Estate Agents/Realtors don’t have deep pools of AML expertise
- Multiple Branches – many Estate Agents/Realtors have large networks of small branches which are accountable for AML
Maestro-Solution
Estate Agents/Realtors can use GRC-Maestro to meet their AML obligation, including:
- AML Resourcing – keeping the designated Senior Manager responsible for AML informed of material issues as they arise, periodic reporting of AML operations and the results of AML auditing
- AML Reporting – reporting KPIs for senior management, assessing AML requirements/risks, resourcing and monitoring results
- Record-Keeping – ensure the AML records required by regulators are recorded and accessible on demand