Factors That Lead to Money Laundering in the Real Estate Sector Based on the Financial Action Task Force Standards ()
ABSTRACT
The study
aim was to identify factors that lead to money laundering in the real estate
sector based on the Financial Action Task Force Standards. A descriptive
cross-sectional study was conducted and both quantitative and qualitative data
were collected to better
understand the money laundering in the real estate sector in a bid to address
the factors that lead to money laundering. Simple random sampling and purposive
sampling were used in this research. SPSS was used to analyse the quantitative
data and the qualitative data was transcribed and analyzed based on the
recurring themes. The study results are that effective AML in the real estate
sector relies on the AML training and effective Internal Controls by real estate agents. The
results presented a p-value of 0.008
which was less than 0.05. This indicated that the model was statistically
significant in explaining the impact of the independent variables on the
effectiveness of AML in the real estate sector in Zambia.
Share and Cite:
Chisenga, D. and Phiri, J. (2021) Factors That Lead to Money Laundering in the Real Estate Sector Based on the Financial Action Task Force Standards.
Open Journal of Business and Management,
9, 385-396. doi:
10.4236/ojbm.2021.91020.