Money Laundering on the Property Market

Money laundering is a crime that can be found in many places. Although most people would associate it with the dark and dodgy casinos in fact it is something that criminals have adapted and become very good at.

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The Internet has been one thing that has made money laundering easier for criminal groups but another big problem with money laundering can be found on the property market. Criminals but often by property as a way to wash their dirty money.

There are many checks now in place as regulations have tightened up in response to this increase and criminals using the property market illegally such as AML ID verification checks like this w2globaldata.com/an-idiots-guide-to-aml-kyc-id-verification/ . However, there are some warning signs that you can look out for yourself that may indicate that the buyer is taking part in money laundering.

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some of the things to look for include:

A buyer which is cash only

Payments that are coming from many different sources

Other parties providing funds for the transaction

A sale price that seems unusual and not in line with the usual prices on the property market at the time

Payments that are made directly between the buyer and the seller

Although these are not necessary evidence that the person is a money launderer they are signs that this might be the case. It is certainly worth contacting the police if you notice any of these things that might ring alarm bells.

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