Word File: Public Consultation Guidance Real Estate Sector
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The Financial Action Task Force (FATF) is considering proposals for the update of the FATF Risk Based Guidance to the Real Estate Sector.
In June 2021, the FATF Plenary agreed to review the guidance and set out a Project Team of FATF delegations and private sector representatives to consider the necessary changes and gather relevant information.
The Guidance paper proposed for public consultation reflects the work and discussion of the Project Team, as well as members’ input of relevant case studies and data on the real estate sector’s AML/CFT supervision and practice.
The FATF is consulting all interested stakeholders in advance of finalising the Guidance. Views from practitioners, experts and those involved in the broader real estate business are welcome. We also welcome views from interested non-profit sector organisations.
Of particular interest, comments and additional input are welcome regarding:
- The details and specific guidance to practitioners, as well as additional aspects of guidance that may merit consideration and are not currently addressed.
- Specific business-cases of real estate sector ML/TF risks and threats, and measures put in place by the private sector to address them so that the Guidance could be more helpful and practical.
- Terrorist financing threats as identified by the sector practitioners.
Please provide your response, including any drafting proposals FATF.Publicconsultation@fatf-gafi.org with the subject-line “Comments of [author] on the draft FATF RBA Guidance”, by 22 April 2022 (18h00 CET). This Public Consultation is now closed.
While submitting your response, please indicate the name of your organisation, the nature of your business, and your contact details. Please also indicate if you have any objections or concerns regarding the use of the input provided to inform the FATF’s high-level summary of the public consultation.
You may insert any specific drafting proposals directly in the attached text of the draft in tracked changes. We will use your contact information only for the purpose of this public consultation and for further engagement with you on this issue.
At this stage, the FATF has not approved the draft Guidance and will consider the views received to revise the text before its proposal for adoption at the FATF June 2022 Plenary.
We thank you for your input in advance.
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