I’m purchasing a property for investment purposes, specifically an industrial warehouse, and will be raising funds for the project. Most of the funds will be raised by my partner, with minimum checks of around $250,000 to $500,000. I’ve never raised capital before and want to ensure that all investors and their funds are clean—no fraudulent behavior or money laundering involved. Does anyone recommend any groups, websites, or firms to run background checks and anti-money laundering checks? Any additional advice or checks I should consider would also be appreciated.
You should definitely look into services like LexisNexis or Experian for comprehensive background checks. They offer robust AML solutions.
Fane said:
You should definitely look into services like LexisNexis or Experian for comprehensive background checks. They offer robust AML solutions.
I agree, those platforms are reliable. Also, consider using a compliance consultant to help navigate the regulations.
Make sure to verify investors’ identities and source of funds. You can use software like ComplyAdvantage or RiskScreen for AML checks.
Noble said:
Make sure to verify investors’ identities and source of funds. You can use software like ComplyAdvantage or RiskScreen for AML checks.
Thanks for the recommendations! I’ll look into those options.
Consulting with a lawyer who specializes in real estate and securities can also guide you through the capital-raising process legally.
Zen said:
Consulting with a lawyer who specializes in real estate and securities can also guide you through the capital-raising process legally.
That sounds like a solid plan. I’ll definitely consider hiring legal help.
Don’t forget to check if the investors are accredited if you’re dealing with larger sums. It’s crucial for compliance.
Winslow said:
Don’t forget to check if the investors are accredited if you’re dealing with larger sums. It’s crucial for compliance.
Good point! I’ll make sure to verify their accreditation status.
Always conduct thorough due diligence on both the financial and legal aspects of the investment. It’s better to be safe than sorry.
Azar said:
Always conduct thorough due diligence on both the financial and legal aspects of the investment. It’s better to be safe than sorry.
Absolutely! I appreciate all the advice.