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  • Writer's pictureJerry Ipsen, CFE, MBA

Is Your CRE Compliance Officer AML Literate?

Compliance is no longer a mere cost but a critical aspect of business operations. Many organizations to include real estate developers who accept foreign investment, must adapt to the changing compliance landscape. This would include a working knowledge and understanding of Anti-Money Laundering regulations and reporting requirements. Failure to comply could have the offending firm face severe financial fines among other penalties.

In addition, the risks associated with money laundering in real estate could lead to one being charged with aiding and abetting criminal activity. The only way to avoid these charges is to implement effective AML policies and procedures.

Three reasons why real estate businesses need to adopt AML procedures:

1. To avoid fines and penalties

2. To protect the reputation of the business

3. To protect employees from being accused of fraud

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