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Obligations under the Money Laundering Regulations 2017

What has the Law Society done to assist solicitors to comply with their obligations under the Money Laundering Regulations 2017?

The Law Society with other legal sector representatives has prepared the Anti-money Laundering Guidance for the Legal Sector.

Also, the Law Society website sets out a number of AML services including the following:

The anti-money laundering helpline may be contacted on Monday to Friday 9am to 5pm on 020 7320 9544. The helpline assists solicitors navigate the Legal Sector Affinity Group’s anti-money laundering guidance and responds to general queries on AML compliance. It does not provide legal advice or advice on conduct issues.

Anti-Money Laundering Directory where solicitors needing legal advice on AML compliance issues can access an online directory of solicitors who practise in this area and are willing to be contacted by other solicitors seeking legal advice.

Anti-money laundering training – various tailored training sessions run throughout the year. See also the Professional Development Centre for online training.

Our Anti-money laundering newsletter is an electronic update sent to subscribers every few months containing methodologies, current news and details of training.

Anti-money laundering Toolkit available for purchase from the Law Society Bookshop.

Disclaimer

While every effort has been made to ensure the accuracy of the information in this article, it does not constitute legal advice and cannot be relied upon as such. The Law Society does not accept any responsibility for liabilities arising as a result of reliance upon the information given.

Have you got a practice question? Call the Practice Advice Service on 020 7320 5675 or email practiceadvice@lawsociety.org.uk

The Practice Advice Service is staffed Monday to Friday from 9am to 5pm.

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