THE Financial Intelligence Centre has sanctioned Cheers Real Estate Limited, OAKTREE Real Estate and Anderson & Anderson Valuation surveyors for failure to establish and implement Anti-Money Laundering/Countering the Financing of Terrorism compliance programmes.. According to a public notice, FIC Acting Director General Liya Tembo said the three real estate agents had been sanctioned in form of a financial penalty amounting to K150,000 each. “The Financial Intelligence Centre has sanctioned three real estate agents namely; Cheers Real Estate Limited, OAKTREE Real Estate and Anderson & Anderson Valuation surveyors for breaching Section 37C of the FIC Act No.46 of 2010 in form of a financial penalty amounting to K150,000.00 each. This is in a case where the Financial Intelligence Centre found that…...

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