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Anti-Money Laundering

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Is Anti-Money Laundering (AML) Mandatory Compliance Coming for Realtors?

Posted by Debra Killian
Categories AML, Compliance, Real Estate Agents, Real Estate Brokers, Real Estate CE
Date July 17, 2023

July 17, 2023

Do you know how money is actually laundered through real estate transactions? Do you know your Anti-Money Laundering (AML) Training Requirements? Between 2015 and 2020, at least $2.3 billion was laundered through US real estate, with estimates by Washington, D.C. think tank Global Financial Integrity (GFI), putting the number much higher. The real estate sector is now coming under increased scrutiny from government regulators and enforcement agencies for its compliance with anti-money laundering and reporting …

Debra Killian

Mortgage Company Compliance Requirements for AML Training

Posted by Debra Killian
Categories AML, Banks, Compliance, Credit Unions, Mortgage Education, Mortgage Insights
Date July 11, 2022

July 11, 2022

How does a mortgage company meet the statutory requirement for Anti-Money Laundering education? The question comes up because many companies do not comply with the annual education requirement for all employees. In our opinion the law and regulations on AML training is purposely not specific because the term education is defined by the outcome and not the input. More simply put if you understand the requirements of the law you are educated. To be sure …