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The Fight Against Money Laundering in the Real Estate Sector

Updated: Dec 14, 2022

One hand shows keys stuck to a key holder in the shape of a small house

The fight against money laundering and terrorist financing (AML/CFT) has accelerated in recent years, requiring real estate agents and developers to have adequate internal organization and money laundering risk assessment systems.

In this context, Luxembourg finalized its updated national AML/CFT risk assessment in December 2020.

Real estate is a risky sector

Sectors identified as high-risk include real estate, which is generally considered high-risk given the attractiveness of the products (high-value transactions and value-retaining assets) and the possibility of concealing property through stacking operations. In addition, in the COVID health crisis, the risks of money laundering and terrorist financing related to the use of new technologies (including, for example, virtual visits) and non-direct customer relationships are very high. On top of this is the reputational risk if your organization is mentioned in a money laundering case, or even used for money laundering or terrorist financing purposes.

Given this barrage of compliance obligations, MAQIT offers the concept of AML/CTF Compliance for Real Estate Agents and Developers as a service, which allows you to fulfill your AML/CTF compliance obligations while optimizing the costs related to this process.

MAQIT as a solution

Stop wasting valuable time implementing all aspects of AML/CTF compliance by yourself and simplify the task by adopting MAQIT's services. We take care of the automatic drafting and updating of procedures and risk analysis, as well as regulatory monitoring, so that you are always in line with the latest AML/CTF developments.

In addition, MAQIT offers tailored trainings for real estate agents and developers in Luxembourg. Contact us for more information about our AML/CTF compliance services.

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