Talk to the experts in Real Estate industry compliance support
New Zealand introduced its Anti-Money Laundering and Countering Financing Terrorism (AML/CFT) legislation in 2009. Banks, financial institutions and many other sectors have been operating under the legislation since June 2013 and Real Estate agents have been captured under the legislation from 1 January 2019.
The law allows for the outsourcing of your CDD obligations. CDD stands for “Customer Due Diligence” and refers to standard practices used by businesses like banks and law firms, to obtain information about their customers to prevent their services being misused. This helps businesses to identify suspicious activity. Information includes identification of names and addresses for various parties, and the source of funds.
Compliance is what we do, Real Estate is what we know.
CDD Outsourcing was formed by Karen Jackson of Lifestyle Finance and Nick Kearney of Schnauer and Co, who saw the need for expert support for the Real Estate industry to manage the new AML legislation. Karen’s experience in Real Estate finance made her uniquely placed to support Real Estate businesses to meet their CDD obligations, having worked within the AML framework for years. With a view to expand this expertise further, Karen partnered with Nick Kearney from leading law firm Schnauer and Co, bringing a greater depth of property related legal expertise to the CDD Outsourcing offer. This unique CDD compliance offer has been created to uniquely suit the needs of the New Zealand Real Estate industry in meeting their CDD compliance obligations under the new AML Legislation.
Recognised by the best.
Our expertise in this space has been recognised by the industry, with leading AML compliance company AML Solutions partnering with CDD Outsourcing to handle all their Real Estate related outsourced CDD services. We’re the official outsourced CDD partner and as such we are exclusively embedded in their AMLHub.
A Simple cost structure.
We’ve deliberately kept our cost structure simple and affordable. There’s just one payment per transaction, not per person.
If you’d like to know more about how we can help you to meet your AML and CDD obligations, get in touch today.