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.
Article 9.2 of the Fourth EU Money Laundering Directive empowers the European Commission to identify 'high risk third countries'
This guidance explains the role of the Law Society and other organisations in the reporting of money laundering.
Whether you are making your first suspicious activity report (SAR) or your 100th, providing the correct information will ensure that it is processed quickly and can be used most effectively.
A Suspicious Activity Report is a disclosure made to the National Crime Agency under Part VII of the Proceeds of Crime Act 2002 or Part III of the Terrorism Act 2000.
Download our new 'top tips' to ensure compliance with the most recent Anti-money laundering regulation.
We look at what a money laundering reporting officer needs to consider before deciding that there are grounds to make a report to the Serious Organised Crime Agency.
Resources available to you, tips on how to manage fee earners' and management's expectations, and help you avoid some of the common pitfalls for newcomers
In this month's feature, we look at how MLROs can develop effective relationships with their legal practice's accounts team.
Potential criminal sanctions for breaches of money laundering obligations can be seen as a useful headline to keep the attention of partners and fee earners in training.
Many MLROs still find the verification of source of funds a contentious area, with fee earners and partners often making a number of incorrect assumptions about their obligations.
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.
Litigators will gain expert insight from a high-calibre line up of judges, commercial litigators and barristers. Delegates will be given the opportunity to ask questions and join in debate from the floor
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.