ReallyTrusted recently shared about two new capabilities available to users of the ReallyTrusted App.
WATCHLIST SCREENING
Effective immediately, whenever a new ID record is created, the name will be put through a watchlist check. The lists being checked against account for a huge variety of sources and will help REALTORS® identify individuals who should be further scrutinized. Functionally, the new check will occur during the normal ID creation process and will require the agent to intervene only if there is a name on a list that is similar to the name of the person for whom you are creating an ID record.
"Hits" on the lists will be useful to REALTORS® and brokerages in identifying potential PEP/HIOs, individuals on sanctions or terrorist watch lists and/or individuals involved in other criminality. This new feature is included with the ReallyTrusted service at no additional cost.
NEW CREA FORMS
(Only relevant to users that are not already using the RT3 risk determination system)
The newly released CREA forms have now been put into production for those REALTORS® and brokerages who wish to use them. Individual accounts and brokerages whose compliance officers have not established a brokerage account have automatically been moved over to the new CREA forms. Brokerages who have previously specifically opted to use CREA’s forms will be contacted by the ReallyTrusted support team to get their direction as to which version of the forms they’d like to be using.
The workflow they have created for CREA’s new risk determination makes the process as easy as it possibly could be (given the complexity of the questions and math involved), but we also want to re-iterate the importance of brokerage compliance officers taking the time to understand that your brokerage policy manual needs to reflect how your agents will be making risk determinations (something that has changed dramatically on these latest forms - this means your manual will need to be updated).
If you have any questions or require help with your FINTRAC compliance needs, please reach out to ReallyTrusted's Support Team at support [at] clients.reallytrusted.com (support[at]clients[dot]reallytrusted[dot]com).
