Linear’s new tool offers real estate agencies a reliable and effortless way to comply with increasingly strict regulatory demands.
Sanctions lists must be checked when establishing a new customer relationship, but without regular monitoring, it is impossible to know who appears on these frequently updated lists. Manual screening is not only burdensome but also risky. Linear’s newly launched tool solves the challenges of sanctions monitoring through automation. It automatically performs sanctions checks on active client data once every 24 hours. If a potential match is detected, the system sends an email alert to the user, enabling the realtor to take the necessary actions. This way, monitoring and follow-up work are no longer dependent on memory or occasional manual checks.
The automation tool supports real estate agencies in fulfilling their legal obligations, especially in the current environment where the recent entry of the EU Directive has tightened the consequences of violations. Under the new directive, criminal liability may also arise from gross negligence. Fines imposed on entities can reach up to 40 million euros, making penalties significantly more severe than before.
“The obligations for realtors remain essentially the same as before, but compliance has become far more central to risk management with the new directive. At worst, neglecting these duties could jeopardize the entire business, so this is not a matter to take lightly. Our goal with this solution was to make screening a routine part of daily operations – not an additional administrative burden. We found a suitable partner in Signicat, whose electronic signature services we already use in our software,” explains Victor Gallen, Linear’s Chief Technology Officer.
Linear’s tool is based on Signicat’s service, which utilizes data produced by Trapets on sanctions and freeze lists. Signicat is the leading provider of digital identity solutions in Europe, while Trapets specializes in technology solutions focused on anti-money laundering and financial crime prevention. This integration brings automated screening into the real estate software without requiring users to manually input and check client data across separate platforms. Checks run automatically in the background and integrate seamlessly into existing processes. At the same time, the tool may serve as an evidence for authorities that the real estate agency has appropriate procedures in place to monitor sanctions lists.
Media inquiries:
Victor Gallen, CTO of Linear
victor@linear.fi