Money laundering firm inks deal with RICS to help members avoid fines
RICS's 134,000 plus members will be able to navigate anti-money laundering compliance processes across the United Kingdom, Australia and New Zealand.
The Royal Institution of Chartered Surveyors (RICS) has teamed up with anti-money laundering (AML) specialists First AML to support members and ease AML concerns.
The partnership offers an all-in-one AML compliance platform, enabling RICS‘s 134,000 plus members to navigate AML compliance processes across the United Kingdom, Australia (pending Tranche 2) and New Zealand.
COMPLEX
Conventional AML processes can be complex, time-consuming and detract from revenue-generating activities.
With First AML‘s platform record-keeping and complex ownership structures can be promptly addressed, ensuring high verification rates and a streamlined process as well as helping with customer identification, auditing and data storage.
The deal means RICS members receive exclusive pricing, with units starting at £8 down to as low as £4 per unit.
Lorella Paterson, International Markets Director, Professional Products at RICS, says: “AML compliance is important for us as a regulator and an area of concern for many of our firms.
“This partnership with First AML provides an option based on a wealth of industry knowledge to help our members address their concerns.”
Simon Luke, UK Country Manager at First AML, says: “We are proud to be partnering with RICS to provide direct support to its members, helping them to navigate the complexities of AML compliance.”
SAFEGUARD
“Our objective is not only to safeguard their operations but also to significantly reduce the AML burden, allowing RICS firms to focus on their core professional services.
“We are here to add value to their work, enhancing their service delivery to consumers and businesses alike.”
Luke cites Flude Property Consultants, also a RICS member, as just one example. After selecting First AML last year the firm witnessed a reduction in time spent on administrative tasks and a reassured sense of compliance.
He adds: “The positive impacts of this collaboration bear significant relevance for all RICS members with AML obligations, pointing towards a broader applicability and benefit of the partnership.”
