5.1 Real estate agents

Transcript

This add-on is for real estate agents. Here's how AML/CTF applies to your work. The main designated service is acting for a client to buy, sell or transfer real estate. Leasing and property management are generally not covered. Watch for red flags: unusual funding or cash, buyers acting through third parties or complex structures, pressure to rush or skip checks, and prices far from market value. Check AUSTRAC's real estate guidance to confirm who your customer is for each sale. Then focus on lessons 2.3, 3.3 and 3.4: due diligence, and sending checks for people, companies and trusts. Quick recap. Acting on buying, selling or transferring real estate is a designated service. Leasing and property management are generally not covered. Watch for unusual funding, third parties, rushing and odd pricing. That's your industry add-on. Revisit any core lesson anytime.