Press Release

RICS launches consultation for new edition of financial crime standard incorporating crypto and AI

25 February 2025

The Royal Institution of Chartered Surveyors (RICS) is launching a consultation for a second edition of its financial crime standard. The standard, titled Countering Financial Crime: Bribery, Corruption, Money Laundering, Terrorist Financing and Sanctions Violation was first released as a professional statement in February 2019 and upgraded to the status of a Mandatory Standard in July 2023.

Since the standard’s initial release, RICS reviewed and updated it to address the evolving landscape of financial crimes driven by the rise of technologies such as artificial intelligence (AI) and the increasing use of cryptocurrency. The updated standard aims to enhance the ability of RICS members and regulated firms to navigate and mitigate emerging financial crime threats, strengthen compliance and uphold transparency, fairness and accountability in the built and natural environment.

The rise in the use of cryptocurrency payments and AI in all sorts of work in the built environment compels RICS to update this important standard. RICS calls on its members across the globe and welcomes professionals from outside the institution to contribute to the consultation.

The consultation will be available at this link from approximately 8 am UK Time on Tuesday 25 February 2025. The consultation runs from 25 February to 25 April and the Second Edition should be published by September 2025.

-ENDS-

About RICS

We are RICS. Everything we do is designed to effect positive change in the built and natural environments. Through our respected global standards, leading professional progression and our trusted data and insight, we promote and enforce the highest professional standards in the development and management of land, real estate, construction and infrastructure.

Our work with others provides a foundation for confident markets, pioneers better places to live and work and is a force for positive social impact.

For more information:

Kris Hicks
Khicks@rics.org

Kate King
kking@rics.org

press@rics.org

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