Who is covered
Designated non-financial businesses and professions include real estate agents and brokers, dealers in precious metals and stones, lawyers and notaries, accountants and auditors, and corporate service providers. If that is you, anti-money-laundering rules apply in full.
What you must have
- Registration on goAML, the reporting platform of the Financial Intelligence Unit
- A business-wide risk assessment
- Written policies and procedures
- Customer due diligence, with enhanced checks for higher-risk clients
- Screening against sanctions lists
- A compliance officer and regular staff training
- Suspicious transaction reporting
Why it matters
Supervisors inspect businesses in scope and fines can be significant. Banks also increasingly ask for evidence of an AML programme before opening or keeping accounts.