The Law Society is committed to making the UK a hostile environment for illicit finances by helping solicitors in England and Wales act as gatekeepers to the UK financial system.
Solicitors play a key role in detecting and preventing money laundering, and the Law Society as the named supervisory authority under the Money Laundering Regulations 2017 shares the government’s objectives in ensuring the UK has a robust and effective AML regime.
To achieve this, we provide AML guidance to our members and work alongside government, law enforcement and other supervisory authorities to improve the UK’s legislative and policy framework on AML.
While the Law Society is the named supervisory authority, we have delegated all regulatory functions to the Solicitors Regulation Authority, which acts independently and is responsible for monitoring and enforcing solicitors’ compliance with their AML obligations.
The EU Financial Sanctions Regulations 2017 impose new obligations on independent legal professionals.
Our summary of recent decisions from the Solicitors Disciplinary Tribunal involving breaches of anti-money laundering requirements.
I have been approached by a registered charity wishing me to act on the purchase of a property. What customer due diligence checks should I undertake?
The Flag it Up campaign has been launched by the Home Office.
Today, company directors need to understand that the law requires them to ensure that their company is required to police itself for good corporate governance. The days have long gone when directors could say that their singular role in life was to maximise company profits, without considering the wider implications of its actions.
The Law Society has responded to the Financial Conduct Authority’s consultation on the plans for a new Office for Professional Body Anti-Money Laundering Supervision (OPBAS).
Solicitors should report frozen assets belonging to a designated person to HM Treasury.
Our response highlights our concerns that OPBAS is likely to impose unnecessary costs on professional body AML supervisors.
The regulations, which come into force on 8 August, will extend to 'independent legal professionals' and other 'relevant businesses.'
Test your knowledge of anti-money laundering.
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.
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 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.