Regulatory Alerts2019-09-02
Guidance on Compliance with the Money Laundering Regulations in Real Estate Brokerage
The Norwegian Financial Supervisory Authority issued this guidance to regulate real estate brokers, lawyers, and legal assistants in preventing money laundering and terrorist financing. It mandates that these entities conduct individualized risk assessments, establish robust internal routines, and implement strict customer due diligence measures. The document further details requirements for enhanced due diligence, ongoing monitoring, reporting obligations, and the secure handling of client funds.
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