Preventing Fraudulent Real Estate Transactions
Knowing your clients is an important first step in any agency relationship and is imperative in identifying and preventing fraud and money laundering. The BCFSA website has the Anti-Money Laundering Guidelines.
There are additional steps you can take to help thwart potential fraudsters and protect the industry and the public, like going beyond collecting the information required under PCMLTFA, which is a minimum standard.
This is another reason why using REALTYnuance© to keep your collection of client information is crucial.
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