Pursuant to Part C of the First Schedule of the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020 (“AML/CFT Act”) as amended, the Financial Intelligence Unit (“FIU”) is the designated supervisory authority for the Real Estate Agents. 

Persons for the Real Estate Agents, by way of business, provides the following service –

  • A person who provides real estate agency services for or on behalf of third parties concerning the buying or selling of immovable property

In accordance to section 12.2 of the AML/CFT Act 2020 as amended, the FIU shall monitor and enforce compliance of the reporting entities under its supervision and shall be responsible for promoting compliance with the provisions of the Act by all the reporting entities.