Reapit clients however, should have nothing to fear, as the software caters for Money Laundering legislation by allowing to mark both vendors, landlords, applicant and tenant records as being compliant. The RPS software allows scanned images to be attached to records, in addition to fields noting what ID has been sighted.
A whole series of reports have been designed to allow agents the ability to report on missing ID’s at the touch of a button and then send the relevant chase up emails or letters.
If an agent feels that doesn’t go far enough, Reapit’s workflow allows them to ultimately withhold a property from sale if the Vendors ID is missing, alternatively a custom prompt could come up on screen at any relevant stage in a transaction warning the ID is missing.
So don’t get caught out in 2012 as the penalties for failure to report suspicious activity could result in a hefty fine or ultimately a 14 year prison sentence. Read the full OFT information online here http://www.oft.gov.uk/OFTwork/estate-agents/
Reapit clients can contact Support on 0845 330 2965 if you feel you need any help in these areas.
Non clients contact Simon Whale on 07718 158490 for more information on some of the many benefits Reapit can bring your business.