AML software for real estate agencies that automates your due diligence
SimplifiAML helps you manage your agency’s anti-money laundering compliance: identifying buyers and sellers, beneficial owner, sanctions and PEP screening and a record of every transaction. Affordable software you use yourself, replacing day-to-day consultancy work, not a big implementation project.
Art. 2.1.l
Agencies and developers covered
€60,000
Minimum fine for a serious infringement (Art. 57)
10 years
Record keeping (Art. 25)
Are you an obliged entity? Real estate agencies and developers
Property developers, and anyone who professionally acts as an agent, commission agent or intermediary in the purchase and sale of property, are obliged entities (Art. 2.1.l), whatever the size of the business. For rentals, the law applies when the rent is €10,000 a month or €120,000 a year, or more. If you are covered, you must identify your customers, apply due diligence, screen them and keep records.
AML obligations for real estate agencies: the real sanctions
SEPBLAC supervises compliance with the law and may inspect you and ask for the file of any transaction (Art. 47). Serious infringements carry fines from €60,000 (Art. 57), and directors and managers can be held personally liable (Art. 54).
Serious fines from €60,000
Failing to identify buyers, to check the source of funds or to document due diligence can amount to serious infringements (Art. 57).
Personal liability
Directors and managers of the agency can be held personally liable, not just the company, when the infringement is due to their wilful or negligent conduct (Art. 54).
SEPBLAC inspections
SEPBLAC may ask for the file of any sale (Art. 47). Without traceable documentation, an inspection becomes a direct risk.
Sanctions lists and PEPs
Without screening, you could act in a deal without spotting people on international sanctions lists, PEPs or their family members and close associates, and fail your due diligence.
AML obligations for real estate agencies
- ✓Identify and verify the identity of buyers and sellers (Art. 3)
- ✓Identify the beneficial owner if the customer is a legal entity (Art. 4)
- ✓Understand the purpose of the relationship and, where appropriate, check the source of funds (Arts. 5 and 6)
- ✓Screen against sanctions lists, PEPs and their family members and close associates
- ✓Apply enhanced due diligence to PEPs or customers from high-risk countries (Arts. 11 to 16)
- ✓Report suspicious transactions to SEPBLAC (Art. 18)
- ✓Keep the documentation for 10 years (Art. 25)
AML automation
How the software helps real estate agencies comply
- →Automatic screening against sanctions lists, PEPs and their family members and close associates
- →A file for every transaction, with identification, beneficial owner and logged decisions
- →Alerts when a customer appears on a new sanctions list
- →Structured transaction records and a due diligence audit trail
- →Exportable documentation, ready for a SEPBLAC inspection
From €39/month · No lock-in
What the software automates and what remains yours
The software speeds up screening, record keeping and documentation for every property transaction. Due diligence decisions and responsibility before SEPBLAC remain yours as the obliged entity.
What the software automates
- ✓Screening against sanctions lists, PEPs and close associates before and during the relationship
- ✓Digital record of transactions, parties and beneficial owner
- ✓Orderly creation and storage of a file for every transaction
- ✓Alerts on new matches in international lists
What remains yours
- →Assessing the transaction risk and deciding which enhanced due diligence applies
- →Deciding whether there are sufficient grounds to report to SEPBLAC
- →The AML prevention manual and internal governance, where applicable
- →Reviews by an independent external expert, where the rules require them
- →Final responsibility as the obliged entity
The AML system for your real estate agency, without expensive consultancy
Guided onboarding. No technical team. No lock-in.
Book a demoNo commitment · Free demo · In English or Spanish
Also operating in Panama? Compliance for real estate agencies under Panama’s Law 23 of 2015 (in Spanish)