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.
We are holding a number of free anti-money laundering training sessions across the country in April, May and June.
We hosted a webinar in partnership with Accuity on overcoming AML challenges for law firms. We share some of our answers.
I recently attended an AML training course. A delegate mentioned a new organisation called OPBAS and said it has extensive enforcement powers. What is OPBAS and is this correct?
Article 9.2 of the Fourth EU Money Laundering Directive empowers the European Commission to identify 'high risk third countries'
Our team of solicitors answers questions on anti-money laundering, customer due diligence, client care, and conveyancing.
This guidance explains the role of the Law Society and other organisations in the reporting of money laundering.
We have partnered with the government to remind practitioners of the positive impact that quality AML checks can have on tackling dirty money.
This practice note highlights the warning signs of mortgage fraud and outlines how you can protect yourself and your firm from being used to commit fraud.
I am the MLRO and money laundering compliance officer in a new firm, which will be providing regulated services. My partners and I are in the process of conducting the practice-wide risk assessment. Is there any guidance on what to consider?
We consider the reasons why the 2018 National Crime Agency report on SARs shows a 12% decrease in submissions from the legal sector.
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.
Book your place and hear from industry experts on the latest developments in anti-money laundering compliance.
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.