PETALING JAYA: Real estate agency Zerin Properties has adopted instant background check mobile web app HaloCheck.xyz which simplifies the Bank Negara Malaysia’s (BNM) anti-money laundering/counter financing of terrorism (AML/CFT) process.
In less than two minutes, all Zerin Properties agents can meet compliance and conduct customer due diligence to BNM’s strict requirements.
Real estate agents and other designated non-financial businesses and professions (DNFBP) are the primary targets for money laundering and terrorism financing activities. Due to the nature of their work, professionals in these industries deal with large amounts of money and properties. The movement of these large sums makes it easier to mask and hide illegal activities making DNFBP the most appealing targets to exploit for money laundering.
Zerin Properties has offices across the country and an international branch office in London. The agency is strengthening its due diligence processes and has chosen HaloCheck.xyz to help them comply with BNM AML/CFT requirements.
“We actually got an opportunity to use technology as an avenue to comply with what BNM requires and to satisfy all our clients’ requirements,” said Zerin Properties founder and managing director Previndran Singhe.