Large Estate Agent Groups have the same compliance challenges as Independents, albeit these are exacerbated by implementing the same controls in many offices across the country.
This is additional justification to implement an automated system that monitors the whole network and reports to the MLRO or their Compliance Team on any unusual events or any clients that match with Sanction and/or PEP entries.
When you encounter a Sanction or PEP match, the “SmartSearch Way” enables your compliance colleagues to execute their enhanced due diligence in a matter of 2 or 3 minutes. Furthermore all the AML searches your network undertakes are hosted in the same system and available in real time to authorised staff for client investigations or compliance audits.
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