AML rules have changed the game for real estate, with agencies now facing new compliance obligations, serious penalties, and a learning curve that could catch many off guard.
On the REB Discover podcast, Liam Garman is joined by John Nguyen, founder and managing director of AML Partners, to break down what the new rules mean for real estate professionals.
The pair look at the new AML obligations facing agents, property managers, and strata managers, including risk assessments, compliance programs, compliance officers, and suspicious activity reporting.
They also examine where agencies could come unstuck, from relying on conflicting advice to failing to properly identify and assess the risks within their own business.
The conversation then explores how agencies can approach AML without letting compliance become another operational headache, including the role of technology, outsourcing, and specialist expertise.
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