ANTI - MONEY LAUNDERING
The laws to prevent money laundering are designed to monitor financial markets, including real estate transactions. EU rules in this area are largely based on international standards adopted by the Financial Action Task Force (FATF). They are tailored to the EU’s needs and complemented by national rules.
The real estate sector is directly concerned by the rules against money laundering which oblige real estate professionals to be alert to potential criminal activity and impose reporting requirements.
CEPI’s work focuses on the:
- Monitoring the development of EU law against money laundering;
- Guidance to member associations on the anti-money laundering rules to ensure compliance;
- Representation of the real estate professions in the assessment of risk scenarios for real estate investment concerning money laundering;
- Leading the development of the first European sectorial Anti-Money Laundering tool (AML-tool) implemented by our partner, Optimasys.
Immosurance is the first European sectorial AML solution dedicated to the Real Estate sector, built by OPTIMASYS in close cooperation with CEPI and various CEPI national associations. The platform was developed with its future users and is set to become the most complete AML solution in the market for Real Estate businesses.
The main focus of Immosurance is to cover these areas as required by law:
One central secure platform hosting all data in a secure cloud-based environment, accessible via strict authorisation roles, including a variety of audit roles.
KYB - Know Your Business. Documents for employees and auditors, to have a clear organisation for all AML related elements:
- Business self-assessment translated into internal AML policies and procedures.
- Training materials and certification for employees completing mandatory AML training.
- Organisational structure of AML responsibles over time.
- A whistleblow area enabling employees to anonymously report suspicious activities and transactions.
KYC - Know Your Customer. Transaction-based research documented to demonstrate the mandatory due diligence for real estate transactions, focused on natural persons, legal persons, ownership structures, and real estate-specific components for risk assessment:
- Dossier-based managed due diligence for sales and qualified rental transactions.
- Biometrical and documental ID verification through IDVerse.
- Sanction lists, PEP checks, and adverse media checking in over 2000 sources worldwide through LexisNexis.
- Summarised risk assessment: calculated + self-assessed risks, combined with a sophisticated real estate risk assessment module.
- Applied to Real Estate thanks to the built-in and unique Real Estate Risk Assessment Module.
Available in all major languages in Europe.
Integration possible via API with external CRM systems + easy data import via csv/xls import wizards.
In-app purchases for use of integrated digital services (pay only for what is used).