AML for Real Estate Agencies in Romania - Obligations, Documents, Inspections and Fines

Real estate agencies in Romania are considered reporting entities under Law 129/2019 on preventing money laundering, with clear AML compliance obligations.

Are Real Estate Agencies Reporting Entities?

Real estate agencies fall under reporting entities when brokering real estate transactions: customer identification (KYC), risk assessment, reporting suspicious transactions, and internal AML procedures.

What AML Obligations Real Estate Agencies Have in Romania

Main obligations: conducting the AML risk assessment, implementing internal procedures, appointing an AML officer, applying KYC measures, and reporting to ONPCSB.

What Documents a Real Estate Agency Should Have

A complete AML file should include: the risk assessment, internal AML procedures, KYC policies, staff training records, and registers of checks performed.

What Fines Real Estate Agencies Risk

Fines can vary depending on the severity of the violation. The most common issues: lack of AML procedures, no risk assessment, and incomplete documentation. See AML Fines in Romania.

Conclusion

AML compliance isn't optional for real estate agencies. Missing documents or procedures can quickly lead to sanctions during an ONPCSB inspection.

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