Most small law firms do not have the budget or capacity to have full-time compliance officers. This means the COLP, COFA, MLCO/MLRO and Data Protection Officer often end up carrying out onerous duties in their spare time. It is also difficult to keep up with the latest guidance and keep your policies and procedures in order. We support compliance officers and offer help on all aspects of SRA compliance. We know what it is like to hold a compliance position as we have done it ourselves.
We can provide you with AML support, starting with a robust and compliant AML Policy. We also offer an AML audit which follows the Money Laundering Regulations 2017 requirement for the firm to establish and have an independent AML audit function. Our reviews are inexpensive and follow the process outlined by the SRA in their annual AML risk reviews.
We can also help you write and update your AML Practice Wide Risk Assessment. This crucial and legally mandatory document (that firms sometimes overlook) is the basis of all your AML countermeasures.
We also can support you if you are selected for a SRA AML monitoring visit.