Hang the money-launderers out to dry
Series: Property Week ; 66(20) 18 May 2001, 88-89(2)Publication details: 2001Subject(s): Summary: In the light of a recent Financial Action Task Force (FAFT) report which cites real estate as a money laundering area, the article considers the implications for chartered surveyors. Suggests that residential and commercial property agents who are not regulated by the Financial Services Authority (FSA) are most likely to be at risk. Provides a definition of money laundering, outlines the scope of the Criminal Justice Act 1993 and the Money Laundering Regulations 1993, and points to proposed changes to the EU Money Laundering Directive 1991 aimed at estate agents. Includes measures the property industry can take to reduce the risk of money laundering, such as correctly verifying the identity of individuals, and refers to the development of RICS guidelines.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS64041 (Browse shelf(Opens below)) | 1 | Available | 112885-1001 |
In the light of a recent Financial Action Task Force (FAFT) report which cites real estate as a money laundering area, the article considers the implications for chartered surveyors. Suggests that residential and commercial property agents who are not regulated by the Financial Services Authority (FSA) are most likely to be at risk. Provides a definition of money laundering, outlines the scope of the Criminal Justice Act 1993 and the Money Laundering Regulations 1993, and points to proposed changes to the EU Money Laundering Directive 1991 aimed at estate agents. Includes measures the property industry can take to reduce the risk of money laundering, such as correctly verifying the identity of individuals, and refers to the development of RICS guidelines.