The Royal Corporation (RICS) is a consultation for the second version of the financial crime standard.
The standard, entitled Confronting financial crime: bribery, corruption, money laundering, terrorist financing, and violation of sanctions It was first released as a professional statement in February 2019 and was promoted to a mandatory standard in July 2023.
Since the initial version of the standard, RICS has reviewed and updated to address the advanced scene of financial crimes driven by the rise of technologies such as artificial intelligence (AI) and the increasing use of encrypted currency.
The updated standard aims to enhance the ability of RICS members and organizing companies to navigate and alleviate the emerging financial crime threats, enhance compliance, support for transparency, fairness and accountability in the integrated and natural environment.
RICS said that the rise in the use of cryptocurrencies and AI in all types of work in the built environment forced it to update this important standard. The authority called on its members all over the world and welcomes professionals from outside the institution to contribute to this important advice.
the Consultation It runs from February 25 to April 25, and the second version must be published by September 2025.
