Realtors will oblige... - news on real estate, Kiev, Kyiv region. Real Estate In Ukraine
The bill expands the list of entities of initial financial monitoring.Realtors will be obliged to conduct financial monitoringThe Cabinet of Ministers proposes the Verkhovna Rada to entrust the conducting of financial monitoring for notaries, lawyers and realtors, as described in the related bill No. 3062, registered in the Parliament on September 19.The bill expands the list of entities of initial financial monitoring at the expense of notaries, lawyers, business entities providing legal services, in particular real estate agents or realtors, report "Ukrainian news".At the same time, the bill sets certain limits for the notification of the specified subjects of suspicious financial transactions. For example, the entity of initial financial monitoring may refrain from sending information to the authorized bodies in the sphere of financial monitoring in case such information was obtained in circumstances that are the subject of his professional secrets.Thus, notaries, lawyers and realtors will be required to provide data in case of detection of illegal money laundering or terrorist financing. Given the number of transactions on purchase and sale of real estate goes through notary offices and real estate agencies, you can imagine how much you may receive the "subjects of professional secrecy".The state Department for financial monitoring (scfm) created by the decree of the President of Ukraine Leonid Kuchma in 2004 as a financial intelligence unit, i.e..