According to the Police, where the following signs appear in a property transaction, they may be indicative of (but do not necessarily imply) the presence of money laundering activities (the list is not exhaustive) :

• cash transactions in large amounts;
• the transaction price differs substantially from the market price;
• the vendor and the purchaser know each other, but choose to act through an estate agent as if they did not know each other; and
• the person who viewed the property and the ultimate purchaser are not the same person.

The Police and Customs remind all practitioners that suspicious cases of money laundering must be reported to the Joint Financial Intelligence Unit (JFIU) in accordance with the law. Written report should be sent to JFIU at either the address, fax number, e-mail or PO box listed below. Urgent reports should be made either by fax or by telephone to 2860 3413 or 2866 3366. Confidentiality is ensured.