REAC Joins Fight Against Terrorism Financing, Money Laundering

Real Estate Advisory Council says it is spearheading the risk assessment of money laundering and terrorism financing in their sector.

Speaking recently, Real Estate Advisory Council (REAC) chairperson, Montshwari Mooketsi said in 2017 Botswana was found to have weak legal frameworks to curb these crimes.

The Financial Action Task Force (FATF) recommendation 1, requires countries to identify, assess and understand the ML/TF risk and apply a risk based approach (RBA) to ensure that measures to prevent/ mitigate ML/TF Risks are commensurate with the risks identified.

Editor's Comment
A step in the right direction

That is indeed a welcome development, especially looking at the fact that the manual way of doing things is slowly disappearing and competency in the use of computers and other digital gadgets has become a must.The simple way of looking at it is just an example that almost all companies have gone completely digital and school leavers will be better placed after leaving school, because they will already be familiar with the use of computers.The...

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