Compliance with money laundering obligations is one of the greatest challenges for solicitors in the UK today.
The final version of the legal sector AML guidance was approved by HM Treasury in early March. An earlier draft version was posted on our website in September 2017. We list the changes between the draft and final guidance.
The anti-money laundering (AML) guidance produced by the legal sector AML supervisors, including the Law Society, has now received the approval of HM Treasury.
A selection of questions and answers on some popular AML areas compiled by the Practice Advice Service.
This article explores what conducting customer due diligence (CDD) entails, and lists a few 'red flags' that might indicate suspicious activity by a client.
This article explores the practical requirements to implement policies, controls and procedures, to provide training to 'relevant employees' and to comply with record keeping legislation.
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the Money Laundering Regulations), which came into effect on 26 June 2017, have posed a challenge for firms of all sizes.
A brief overview of the key issues to be aware of and the changes to implement to comply with the regulations.
The International Bar Association, the Council of Bars and Law Societies of Europe and the American Bar Association have jointly issued a new guidance report on anti-money laundering.
From 1 October 2014, the NCA will reject consent requests that do not include reasons for suspicion or a statement regarding criminal property.
AML Policy Officer Scott Devine provides an update on policy issues of note including the EU Fourth Money Laundering Directive and the outcomes of the recent Financial Action Task Force (FATF) Private Sector Consultative Forum held in Brussels.
Our latest advice and tips for new money laundering reporting officers.
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Our practical online course helps fee earners to recognise the warning signs and improve their risk management.
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.
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The latest in AML and financial crime from experts in the field
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.