Digital platform "TrendAgent" (https://trendagent.ae/) operates on the real estate market of the United Arab Emirates (UAE) in accordance with applicable local legislation. Being a member of Financial Action Task Force (FATF) UAE implements bidding rules and requirements to prevent money laundering and financing of terrorism. Due to high risk associated with professional agency in the real estate market enhanced measures of control are being applied.
As prescribed by legal rules we collect additional documents and information about all the parties involved into each transaction and in a due amount as per applicable legislation.
Such measures may include:

• Preparing KYC forms: collecting data regarding to parties to the transaction;
• Collecting full list of the documents on the client or the agent of the transaction for further potential risk assessment;
• Source of funds ascertaining;
• Determination of the ultimate beneficial owner of the transaction participant — a legal entity;
• Reports submitting when it is required by law;
• Transactions monitoring and suspicious activities reporting;
• Other measures as prescribed by the legislation.

These measures are mandatory for all members of the real estate market and liability is provided for non-compliance. The parties to a transaction may refuse to proceed with the transaction without providing any reason if the stipulated requirements are failed to meet or if there is a suspicion of violation.
Our company has adopted internal policies outlining the general guidelines and principles of AML-procedures within the company. All data and documentation we obtained through transactions we process and record in strict compliance with personal data legislation and privacy policies.
More detailed information about applicable legislation of the United Arab Emirates you can find on official web-portal of the regulatory authority.