The DGCCRF carried out a punch action in the Alpes-Maritimes to verify compliance with asset freezing measures by real estate agencies. Balance sheet? 60% of the professionals inspected do not apply their obligations. To the great displeasure of Bercy.
Fraud prevention operation
Since the invasion of Ukraine by Russia, the European Union has taken a series of measures aimed at sanctioning Russian oligarchs, individuals or entities close to Russian power whose assets have been frozen.
Have the real estate agencies established in the municipalities of the Alpes Maritimes concentrating a large number of prestigious real estate properties implemented these asset freezing measures? This is the question that the state services wanted to answer.
60% of professionals checked pinned down
As part of the fight against money laundering and the financing of terrorism, the national investigation service of the DGCCRF conducted, last September, jointly with the departmental directorate for the protection of the populations of the Alpes-Maritimes, a targeted investigation operation.
It appears that ” 60% of operators inspected by the aforementioned competition, consumer affairs and fraud prevention departments were unaware of or did not apply their obligations in this area“, specifies Bercy in a press release.
Real estate agents do not meet their obligations
Among the obligations not respected by the real estate agents, figure, the verification of the name of their customers on the national register of the freezing of assets.
As entities subject to obligations to combat money laundering and the financing of terrorism, real estate professionals are required to verify the presence or absence of their clients in the asset freezing register published by the General Management. of the Treasury.
Professionals must also ensure that their clients are not owned or controlled by a sanctioned person or entity or that they are not acting on behalf of or under the instruction of a sanctioned person.
Other obligations not respected by the pinned down professionals: The immediate implementation of this freezing or even the declaration to the General Directorate of the Treasury of the actions to freeze the assets carried out.
Checks by the competition, consumer and fraud prevention departments also revealed major irregularities with regard to the general vigilance requirement in the fight against money laundering and the financing of terrorism (system of very incomplete risk assessment, lack of verification of the identity of customers and beneficial owners, for example).
The DGCCRF will carry out new checks
These checks will be subject to the appropriate follow-up and new checks. Transmissions of information to the General Directorate of the Treasury and to the financial intelligence unit (TRACFIN), when suspicions of circumvention of the freezing of assets or of money laundering and terrorist financing have been identified, are in progress.
In this sector of activity, asset freezing measures aim to prevent any sale, rental or mortgaging of real estate for the benefit of sanctioned persons or entities. They thus make it possible to prevent the commission of particularly serious illegal acts, including the activities of organized crime.
As the supervisory authority for professionals in the real estate brokerage, the DGCCRF will maintain heightened vigilance in respect of the freezing of assets in the coming months.
Bruno Le Maire calls on real estate professionals to respect their obligations
“The involvement of real estate professionals, alongside State services, is essential to ensure the success of asset freezing measures. This is a sine qua non for hindering the financing of illegal activities, especially in the current context of conflict in Ukraine. I strongly urge professional federations, chambers of commerce and industry as well as professionals to take all measures to ensure that the entire sector is mobilized in the application of these freezing measures. The DGCCRF, whose commitment I salute, will pay close attention to compliance with this obligation.“, declares Bruno Le Maire, Minister of Economy and Finance.
