Second realtor warned for AML non-compliance, industry on notice

The Department of Internal Affairs says AML compliance by real estate agents is crucial. (Image: Getty)

Thu, 06 Jul 2023

The Department of Internal Affairs (DIA) is issuing a formal warning to Hills Real Estate for anti-money laundering non-compliance.This is the second agency it has warned in two months, and it said agencies needed to take heed, noting that property seizures by police were on the rise.DIA issued the formal warning to Hills on May 8 under section 80 of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act.The department said Hills had failed to meet its obligations relating to the establishment, implementation and maintena...

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