International real estate agents could face 'onerous' anti-terrorism and money laundering regs

ICREA: Agents shouldn't have to do 'due diligence' on parties they don't represent

The Financial Action Task Force (FATF) — an inter-governmental body established in 1989 to combat money laundering and financing of terrorist groups — is carrying out a sector-by-sector review, with updated guidance on how the real estate sector should act expected in the months ahead. The International Consortium of Real Estate Associations argues that agents shouldn’t have to do ‘due diligence’ reviews for parties they don’t represent.