in Real Estate
Towards strengthening due diligence measures to prevent money laundering in the real estate sector in Spain and Portugal
A joint initiative by Transparency International Spain (TI-Spain) and Transparência e Integridade (TI-Portugal) aimed at identifying risk areas and the specific needs of the Real Estate sector regarding Anti-Money Laundering (AML) in Spain and Portugal
Why AML & Real Estate?
Spain and Portugal have been particularly vulnerable to Money Laundering through the Real Estate sector in recent years.
OECD’s 2016 report on tax fraud and money laundering vulnerabilities involving the Real Estate sector showed that Spain and Portugal have not yet established comprehensive and necessary measures to eradicate or lessen this problem and its link with corruption.