Fast and effective customer screening for Estate Agents
Why AML screening matters to Estate Agents
UK estate agents operate in a regulated sector and are required by law to perform risk-based anti-money laundering (AML) checks as an integral element of their operations.
As supervised by HMRC, estate agents are expected to meet the approval requirements covered under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
Common risks faced by Estate Agents
Property purchased using the proceeds of crime, then being let or sold, giving the criminal an apparently legitimate source of funds.
Criminals hiding behind complex company structures involving multiple countries and bank accounts to disguise the real purpose of a transaction and hide its beneficial ownership.
Terrorist financing where funds or property may be gained from either legitimate or criminal sources and used to fund terrorist activities.
Breaching sanctions — by conducting business with a sanctioned individual or entity is a criminal offence.
Regulatory fines, penalties, and even reputational damage.
Accelerating compliance for Estate Agents
RiskScreen is simple and intuitive to use – speeding up your processes, reassuring your auditors, and improving satisfaction of staff and customers alike.
An AML solution designed for Estate Agents
See RiskScreen Core
See how easy it is to use RiskScreen Core – from conducting initial AML screening and adverse media searches, through to production of the final report. Ease of use means happier staff, and it’s one of the reasons our customers love us.
Scroll down to see our simple pricing plans. We charge by searches and not seats, so once you have chosen a plan and puchased credits with a credit or debit card, you’re up and running and ready to go!
All types! Our intuitive interface and entry-level pricing means it’s the logical decision for smaller or transaction-based businesses such as or estate agencies. But we have many large enterprise customers who use RiskScreen Core alongside our RiskScreen Batch product to ascertain the risk levels of their prospects at onboarding stage, and then to monitor this risk level on an ongoing basis. To get a demo of how the two might work together, please contact us.
No! In a recent survey conducted by RiskScreen, over 65% of respondents in the banking industry said they still use Google or other search engines for their unstructured adverse media searches. They may sometimes get the right results, but it’s neither consistent nor comprehensive (unless you have the time to trawl through thousands of pages of results). RiskScreen’s adverse media tools connect directly to several major search tools and apply a proprietary combination of sensitive terms to ensure key results are returned. These results are then deduplicated, ranked and presented back to the user in a digestible format – to maximise the chance of unearthing relevant insight on your subject, and to make the process of acting on it as easy as possible.
Yes! You should expect to conduct enhanced due diligence (EDD) when you find a customer or prospect has come back as high risk. RiskScreen Core allows you to conduct ‘Pro’ searches on higher-risk individuals, which include deeper web searches into content sets such as the Panama Papers or FinCen files. Your searches are consistent, scalable and fully auditable – so your team will always get credit for the work they’ve done.
Once you have an account setup with RiskScreen Core, you will be able to login and top-up your search credits.