Money Laundering

Question 1

What is Money Laundering

Answer 1

· Concealing the source of the proceeds of criminal activity to disguise their illegal origin.

Question 2

What MUST firms ensure in relation to money laundering and terrorist financing

Answer 2

Money Laundering - RICS
Avoid
Report suspicions
Review the risks
Due diligence
Record how you have complied

Question 3

What MUST members ensure in relation to money laundering and terrorist financing

Answer 3

· AVOID - not facilitate or be complicit (involved with others) in money laundering or terrorist financing activities
· REPORT - report any suspicions of money laundering or terrorist financing activities to the relevant authorities and/or reported to a senior manager.