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AML in law firms and providing a banking facility

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Facebook Linkedin Instagram AML in law firms and providing a banking facility A recent Regulatory Settlement Agreement clarifies the overlap of these two separate issues. Using client money held for that client, a solicitor implemented a client’s instructions to purchase jewellery, to pay the client’s credit card bills, to defray unrelated business expenses, and to […]

SRA AML Thematic Review of AML Training

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Facebook Linkedin Instagram SRA AML Training – Thematic Review Providing AML training for all relevant staff and maintaining a comprehensive written record of all training are required under Regulations 24(1) and 24(1)(b) of the Money Laundering Regulations 2017. Staff are the first line of defence against criminals, so it’s vital to train them to identify […]

SRA AML Annual Report Findings

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Facebook Linkedin Instagram SRA AML Annual Report 2023/24 Close on the heels of the LSB report, the SRA issued its Anti-Money Laundering Annual Report for 2023-24 which can be found here. The report is lengthy and wide-ranging, detailing all the steps taken by the SRA to encourage and enforce AML compliance, and a new sharper […]