Ensure compliance with AML/CTF laws
Anti-money laundering and counter terrorism financing laws may obligate your commercial real estate agency to conduct and record AML checks for some or all of your property transactions. Surga Central can help you meet your AML compliance obligations in concert with your chosen regulatory service provider.
Record Keeping in the CRM
AML checks will likely involve contact checks to Know Your Customer (KYC) and, if you are dealing with a company, checks to Know Your Business (KYB). These form part of Customer Due Diligence (CDD) and will lead to an assessment of risk. Ongoing Customer Due Diligence (OCDD) will be performed either after a specific time interval or when you perceive a change of circumstances. With Surga Central you can record checks against contacts, companies and deal transactions; thereby helping you comprehensively assess overall risk.
The compliance pillars Surga Central supports
KYC Compliance
- Record and store KYC information in a secure database contact folder
- Flag Politically Exposed Persons (PEPs)
- Assess and store risk level against contacts involved in the transaction
KYB Compliance
- Record and store KYB information in a secure database company folder
- Upload and store supporting documentation against the company
- Flag entity type, entity ID and domicile as well as beneficial owners
OCDD Compliance
- Set automatic review alerts for ongoing CDD checks for contacts and companies
- Generate and view a task for each contact or company requiring OCDD
- Run a CDD review report to monitor upcoming OCDD across the business
Transaction Compliance
- Assess and record transaction risk independently of contact and company risk
- Record source of funds and view CDD outcomes of deal participants
- Create custom fields to record additional information as required
Transparency without compromising privacy
- Confidential KYC/KYB information restricted to approved users
- Agents view CDD status using a simple traffic light signal
- Signals against contacts and companies available on desktop or mobile
Next Steps
If you are weighing up how to meet your AML/CTF obligations and work with your chosen AML service provider contact us for a demo.