To meet challenging economic and regulatory times, the Law Society is extending its range of anti-money laundering (AML) services for our members, by launching series of new cost-effective and practical tools to help you ensure you are meeting your AML obligations.
AML toolkit
The Anti-Money Laundering Toolkit puts into practice the expectations contained in the Law Society anti-money laundering practice note, which has been approved by HM Treasury.
The toolkit, which includes a CD-ROM, is designed to provide firms with practical ‘need to know’ information and contains a full range of draft policies, procedures and template forms which legal practices can adapt to their individual circumstances.
Written by Alison Matthews, the former chair of the Law Society Money Laundering Task Force and money laundering reporting officer with over 12 years experience in this area, the toolkit provides practical advice on how to:
- engage all relevant staff across the legal practice to ensure a consistent approach to compliance
- assess money laundering and financial crime risks for your legal practice
- design appropriate client due diligence, internal reporting and record keeping systems
- manage client, regulator and law enforcement expectations when retainers go wrong; an
- effectively monitor your compliance and ensure that procedures evolve with lessons learnt and changing risks.
Price: £59.95 plus VAT
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Compliance diagnostic and training
Members of the Law Society's Risk and Compliance Service can also engage our risk and compliance consultants for a diagnostic visit to help assess their current level of compliance and develop a plan for improvements or for a range of tailored training on financial crime prevention for compliance teams, partners and fee earners.