Sectors
Real estate
Act quickly, without losing sight of your anti-money laundering obligations.
Your challenges.
Real estate transactions involve large amounts, often with companies and foreign parties. That makes the sector vulnerable to money laundering. Estate agents and other intermediaries are subject to the Dutch Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft) and must know the buyer and seller, even when a deal has to close quickly.
What we look at
Where does the money for the purchase come from, and does that fit the buyer?
Who is behind the company or foreign fund that is buying or selling?
A price far above or below market value, or an ABC transaction (a quick successive resale), calls for additional investigation.
A transaction does not wait. The investigation must be completed on time and properly documented.
Frequently asked questions
Is an estate agent subject to the Wwft?
Yes. Estate agents and intermediaries in the purchase or sale of real estate fall under the Wwft and must carry out customer due diligence.
Do I need to investigate both the buyer and the seller?
That depends on whom you act for. You always investigate your own client. If a transaction is unusual, you report it to FIU-Nederland (the Dutch Financial Intelligence Unit), regardless of the party.
Can BlueMonks work per transaction?
Yes. We investigate individual files as well as larger numbers, and align the lead time with your transaction.