Unwitting accomplices

Article Abstract:

The USA PATRIOT Act requires financial institutions and others to implement customer identification program to ensure that they are not taking money from individuals or businesses prohibited from doing business in the United States. Though federal requirements for setting up customer identification programs do not apply to Real estate brokers, they can be penalized for transacting with such individuals or businesses. Office of Foreign Asset Control (OFAC) has listed some guidelines which real estate professionals can take to protect themselves against violations.

Other Activities Related to Real Estate, REAL ESTATE, Real Estate Services, Economic aspects, Real estate industry, Antiterrorism measures

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Federal no-call rules

Article Abstract:

The new rules adopted by the federal government that allows some leeway in calling potential clients are presented. Answers to the questions about what the new no-call registry means, provided by the National Association of Realtors (NAR) legal and regulatory analysts, are presented.

Telemarketing Services, Telemarketing Bureaus, Business services, not elsewhere classified, Telemarketing, United States. Federal Trade Commission

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In the no-call cross fire

Article Abstract:

No-call laws have been passed and implemented in several states to stop telemarketing fraud. However, these legislations have made it difficult for real estate practitioners to build their client base through cold calling.

Real estate agents, Fraud, Real estate agents and brokers

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