In accordance with recommendations of FATF, REs are divided into licensed financial institutions; designated non-financial businesses and professions; or others . Under the AML/CFT Act 2009, the GRA was appointed as the Supervisory Authority (SA) for the following sectors:
|No.||Reporting Entities/Activities and Businesses||Class of Reporting Entity||Date of Appointment|
|1||Pawnbrokers||Other activity or business subject to the AML/CFT Act||
|2||Used Car Dealers/Car Parts Dealers||Other activity or business subject to the AML/CFT Act|
|3||Dealers in real estate (when the persons dealing are involved in transactions for their client concerning the buying and selling of real estate.)||Designated Non-Financial Business or Profession|
As such, the GRA currently serves as the Supervisory Authority (SA) for:
- Used Car Dealers/Car Parts Dealers
- Dealers in Real Estate
As the SA for the three sectors, the GRA is responsible for ensuring that these sectors strictly comply with the requirements of the AML/CFT Act 2009 (specifically, sections 15, 16, 18, 19 and 20) and the provisions of the Regulations made under the Act.
For additional information, download the AML/CFT Guidance Document for Reporting Entities from the tab above.