01 May 2024

The Investment Association (IA) published an updated version of their Market Practice Paper - Real Estate Transactions and AML Practice in May 2024.

The paper aims to inform investment managers about the financial crime risks associated with managing real estate and offers guidance on due diligence processes for various parties involved in such transactions. It covers the following essential areas:

  1. The potential for money laundering within the real estate sector, outlining the risks arising from geographic, customer, and transactional factors.
  2. Conducting customer due diligence (CDD) for purchasers, vendors and other counterparties, including tenants and auction participants.
  3. Addressing the specific financial crime risks in infrastructure investment and the importance of understanding ownership structures

Tags

News Article The Investment Association

Author

Jacqui Bungay

Jacqui Bungay

Head of Policy and Company Secretary, AREF

Jacqui is AREF’s Company Secretary and provides policy guidance and secretariat services to AREF’s Board and Management Committee as well as many of AREF's committees and working groups.

Jacqui joined AREF in 2014 after working for over 25 years in fund compliance, client relationships and administration in the trustee and depositary sector.

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