Minister of Lands, Housing and Urban Development Jean Kalilani has decried the growing presence of unqualified and unregistered people operating as real estate agents.

According to the Minister, there is a high possibility of the situation could turn into a a money laundering case and terrorist financing. Taking charge, she raised her complaint at a stakeholder’s meeting that was discussing the Financial Crimes Act (FCA) for the real estate sector.

Presenting cases of people that were duped by so called real estate agents, she revealed that there is a new law that requires real estate agents to have graduate degrees or be licensed.