Collect rent in cash? Make sure you stay compliant with money laundering rules
24 Jan 2023
According to an International Monetary Fund assessment, “the widespread use of cash in South Africa poses a high risk for money laundering and terrorist financing”. With that in mind, the Financial Action Task Force (FATF) issued a report in October 2021 requiring substantial legislative changes by November 2022 in order for South Africa to avoid being greylisted by the international watchdog.
It is impossible to time the property market with total accuracy but, for those who know what to look out for, there are a few key indicators that can point to a potential change in market conditions.
Selling your home yourself and keeping the commission in your pocket instead of paying it to an estate agent may sound like a good idea but you should be aware of the dangers before you decide on this approach.
