The Realtors Association of Jamaica (RAJ) wants the authorities to undertake a public education campaign to inform Jamaicans about the requirements under the Proceeds of Crime Act (POCA) and the Terrorism Prevention Act.

The call from President of the RAJ Howard Johnson Jnr. comes as he points out that RAJ members are being challenged in their efforts to get client information.  In some instances the companies lose business.

He explains that the real estate industry is governed by Poca, the Terrorism Prevention Act and the Financial Investigation Divisions Act.  These acts require strict reporting by real estate companies.

Mr. Johnson says the rental sector, which comprises 35 percent of the business done by real estate companies, is the most affected.

Among the information required from customers is source of funds, methods of purchase by cash or mortgage, and proof of address.

Mr. Johnson says clients are reluctant, and often times unwilling, to share information.

As such, he wants the Bank of Jamaica and the Real Estate Board to launch a public education campaign to explain why real estate practitioners require the information.