Renaissance Realty greatly values good governance and a good balance between control functions to comply with relevant laws and regulations, regulatory standards, internal policies and procedures, and integrity and ethical standards.
It is important that the services we offer, don’t only offer value to the interests of our clients, but also that these services comply with any national and international laws and regulations and relevant standards.
The execution of our work must be done efficiently and effectively and meet the regulations. For us, compliance is an essential link and helps in accomplishing our mission and the values for which the organization stands.
Renaissance Realty is one of the first realtors to work compliance proof. That means we work according to international regulations related to the WFT (Notification of Unusual Transactions) and WID (Identification Service Act) compliance.
Our office also participates in the working group of the PMT (Project Management Team) for the real estate business, regarding the upcoming NRA (National Risk Analysis).
Pursuant to the MOT Act as we are now obliged to report any unusual transaction. We are also obligated to know the parties we do business with.
Suriname became a member in 2002 of the CFATF, the Caribbean branch of the Financial Action Task Force. International treaties and regulations have ensured that various countries should comply to 40 requirements, if they don’t want to end up on the ” black list ‘.
The objectives of the MOT Act are:
- Protecting financial system
- Combating Money Laundering
- Combating terrorist financing
Renaissance Realty will always perform a risk assessment before entering into a business relationship or transaction.