Anti-money-laundering policy

Real estate agents in Kenya are reporting institutions under the Proceeds of Crime and Anti-Money Laundering Act, 2009 (POCAMLA). Enclave Real Estate is committed to preventing its services from being used for money laundering, terrorism financing or other financial crime.

1. Knowing our clients

• Before a transaction proceeds, we may verify the identity of buyers, sellers and tenants. For individuals this means a national ID or passport and a KRA PIN; for companies, registration documents and the identity of directors and beneficial owners.
• We may ask where the money for a purchase comes from, and for supporting documents.
• We may carry out enhanced checks for higher-risk clients and transactions, including politically exposed persons.

2. Payments

• Payments for property are made through regulated banks into the account named in the signed agreement. Enclave may decline cash payments.
• Third-party payments, unusual payment structures or payments from unexplained sources may delay or stop a transaction.

3. Monitoring and reporting

We watch for unusual or suspicious activity. Where the law requires it, we report suspicious transactions to the Financial Reporting Centre (FRC) of Kenya. The law does not allow us to tell a client that a report has been made.

4. Records

We keep identification and transaction records for the period required by law, and handle them in line with our privacy policy.

5. Our right to decline

Enclave may refuse or stop any transaction where identity or source of funds cannot be verified, or where we suspect financial crime.

6. Contact

Questions about this policy: info@enclave.co.ke.