Anti Money Laundering

Listed down are some common ways launderers use investment on property as a means of flushing out illegal money movement.

• Through a benami where a property buying is conducted in such a way as to conceal the identity of the true buyer.
• Using a credit and mortgage line to conceal the launder's identity of the purchase.
• Manipulating the property value inflating to an exaggerate a price and launder money through that.
• Offering to pay a business rent just to have the money go through the financial system in the form of rent so it can come out in a usable form.

How can Anti money laundering be checked?

We can track and report suspicions before it is too late. One of the ways we can do this is by signing up with i-PAP’s Anti-Money Laundering search service. Leveraging broad spectrum of technologies - Artificial Intelligence, Machine Learning, Advanced Analytics & Big Data; i-PAP’s Anti-Money Laundering search service, provides with important information such as Proof of Funds, Source of Funds, and Identity documents also authenticates customers against money launderers with accuracy.

By signing up at i-pap choosing your subscription plan, you will be able to enter the individual or the company’s name that you to do AML check, along with the NRIC/UEN and specify if you are doing AML check on the person or on the individual form the dropdown. Click ‘submit’ to get the results instantly.

Thus we protect buyers from falling in the trap of money laundering predators and thereby saving investment from going in vain.