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Service launched to help estate agents spot Russian or Belarusian sanctioned clients

SmartSearch says more and more agents are now keen to check if their client list contains one of the 1,000+ people on the sanctions list.

Nigel Lewis

russia sanctions abramovich estate agents

Russian sanctions have arrived directly at estate agency firm’s doors following the launch of a new service to help them spots existing clients who have residency or citizenship in Russia, Belarus or other high-risk countries.

SmartSearch says its new reporting tool instantly checks all clients that a regulated business such as an estate agency has previously run searches on, and returns matches for those that have a connection to the specified country.

The tech firm says its aim is to support those companies looking to quickly and efficiently evaluate their existing client bases following sanctions placed on a number of Russian individuals and businesses.

High-risk country

Also, the search provides a list of all UK business searches on companies where a corporate structure is returned and an entity within the structure that is operated in a high-risk country.

Link to Money Laundering news“With the potential reputational and financial damage that could ensue for those working with clients connected to Russia or Belarus, regulated businesses have rightly been reviewing their existing clients,” says Martin Cheek (pictured) MD of SmartSearch.

“This new product will give businesses peace of mind that they aren’t working with anyone they shouldn’t be.

“The information will be provided quickly and efficiently and will also be regularly updated for ongoing monitoring purposes.”

Since Vladimir Putin launched his invasion of Ukraine, the UK has sanctioned more than 1,000 of Russia and Belarus’ most significant and high-value individuals, entities, and subsidiaries including, most famously, Chelsea FC owner Roman Abramovich (pictured).

March 29, 2022

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