Compliance with money laundering obligations is one of the greatest challenges for solicitors in the UK today.
Test your knowledge of anti-money laundering.
A brief overview of the key issues to be aware of and the changes to implement to comply with the regulations.
We are currently updating the AML practice note to reflect the changing regulations
The draft Money Laundering, Terrorist Financing and Transfer of Funds (Information on Payer) Regulations 2017 were published on 15 March 2017. The regulations are not as long as the title sounds (or as scary) but failure to take note of the changes can expose firms to prosecution or disciplinary action. Firms with Lexcel should renew their AML policies to ensure compliance with the new regulations.
A round-up of money laundering in the headlines.
Recent questions to the Practice Advice Service on the role of the Money Laundering Reporting Officer and due diligence dilemmas.
The draft regulations will repeal and replace the Money Laundering Regulations 2007 and will bring about some significant changes.
Solicitors Disciplinary Tribunal cases where AML compliance failings or involvement in mortgage fraud have been identified and contribute to the sanction imposed.
Updates include new AML guidance for the legal sector and amendments to 5MLD.
On 25 April Morgan Lewis hosted a Law Society City Money Laundering Reporting Officers (MLRO) Networking Event, which included a presentation by HMRC on the new corporate offence of failure to prevent the criminal facilitation of tax evasion.
Our latest advice and tips for new money laundering reporting officers.
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Our free and confidential helpline offers advice on a range of AML topics including customer due diligence, sources of funds, high-risk jurisdiction lists, and much more.
Call us on 020 7320 9544 Email: AML@lawsociety.org.ukFind out more about our helplines
Subscribe to AML Update and receive bi-monthly AML developments, as well as details of anti-money laundering training and events.
The toolkit contains a full range of draft policies, procedures and template forms which legal practices can adapt to their individual circumstances.
Solicitors needing legal advice on anti-money laundering (AML) compliance can access an online directory of solicitors who practise in this area and are willing to be contacted by other solicitors seeking legal advice.