Anti-money laundering

LSAG Advisory Note: COVID-19 and preventing money laundering and terrorist financing in legal practices

The Legal Sector Affinity Group (LSAG), which includes the Law Society of England and Wales and all the legal sector supervisors named in the Anti-Money Laundering (AML) regulations, has jointly published an advisory note, highlighting key AML risks and challenges for the legal profession associated with the coronavirus (COVID-19) crisis.

The advisory note covers:

  • AML risks to legal firms and vulnerabilities that criminals may seek to exploit during the crisis 
  • non face-to-face identification and verification, and associated digital identity services
  • issues to consider regarding policies, controls and procedures, data protection and information security

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