Open AccessReal estate agent as the institution obliged to counteract money laundering (Part Two)
Author(s) -
Paweł Opitek
Publication year - 2021
Publication title -
nieruchomości@
Language(s) - English
Resource type - Journals
eISSN - 2719-8030
pISSN - 2657-8247
DOI - 10.5604/01.3001.0015.2483
Subject(s) - money laundering , business , statutory law , database transaction , real estate , institution , financial institution , estate , computer security , risk analysis (engineering) , finance , computer science , political science , law , programming language
The article under the title “Real estate agent as an institution obliged to counteract money laundering” discusses statutory responsibilities of agents as regards the AML policy. The second part of the paper examines how to identify the risk associated with a particular client and assignment and how to make a correct assessment and to eliminate the threats. Risk assessment criteria have been discussed with respect to the type of the counterparty, the specific nature of products and services offered, the geographical region of origin of the money and transaction identifiers. The signs of potential threats have been described and systematised in Chapter Six. The paper underlines the fact that the agent’s activities are based on internal AML procedures and should be adequately evidenced. The paper ends with a summary of the researched topic.