CEO CALL TO ACTION A NEW DEAL FOR EUROPE
Η Infocredit Group ανάμεσα στις 100 εταιρείες που απευθύνουν κάλεσμα για αειφόρο ανάπτυξη στην Ευρώπη
Money laundering through real estate transactions integrates black funds into the legal economy while providing a safe investment. It allows criminals to enjoy assets and derived funds havingcamouflaged the origin of the money used for payment. A number of techniques are used, namely cash or opaque financing schemes, overvalued or undervalued prices, and non-transparent companies and trusts or third parties that act as legal owners. Among the possible indicators are geographical features (such as the distance between the property and the buyer and their actual geographical centre of interest). In order to assess the existence of a money-laundering risk, concrete assessments of transactions and a customer's situation provide indications that help raise red flags and trigger reporting obligations. The anti-money-laundering recommendations set out by the international Financial Action Task Force (FAFT) are implemented in the European Union (EU) by means of coordinated provisions (chiefly the Anti-money-laundering Directive). Customer due diligence and reporting of suspicious transactions are tools to address money laundering. Real estate transactions involve both non-financial and financial sector parties operating under different legal requirements. Yet, reporting of suspicious transactions in real estate is limited, leaving ample room for improvement. Improvement is all the more necessary inasmuch as money laundering in general, and in the real estate sector in particular, has a major socio-economic impact, the magnitude of which is difficult to quantify. Awareness is however growing as a result not least of high profile examples of money laundering through real estate in a number of EU cities.
Read more: https://bit.ly/2TmdZSC
PREVIOUS
NEXT
Lobbying on anti-money laundering reporting and compliance issues more than doubled between the first quarter of 2017 and the same period this year as Congress eyed possible changes, according to data compiled by Bloomberg Government.
ICSA: The Governance Institute has launched a certificate in academy governance in order to support the professionalisation of the developing academies sector. It is the only qualification in the UK designed specifically with academies in mind and focuses exclusively on governance challenges faced by academy schools or multi-academy trusts (MATs).
Infocredit Professional Education (IPE) is the fast-growing training division of the leading risk management and business information provider, Infocredit Group.
Jun 07 - Jun 07, 2024 6 hr
May 21 - May 22, 2024 11.5 hr
May 28 - May 28, 2024 6 hr
© 2024 Infocredit Professional Education. All Rights Reserved | Part of Infocredit Group | Terms & Conditions | Privacy Notice
Design & Development by Darkpony