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 chancellor has announced the government's intention to introduce a new levy on anti-money laundering-regulated businesses (including law firms).
Rob Cummings, Head of Regulatory Affairs and Economic Crime, outlines the recent amendments to the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017.
Firms should be aware there will be a narrow window in which to review and adjust to changes to the AML regulations expected in January.
The UK Financial Intelligence Unit has recently published the 2019 National Crime Agency Report on SARS with details on the reporting regime for the past year.
The National Crime Agency has launched a magazine that aims to keep anti-money laundering practitioners informed about the SARs regime.
We have summarised the key findings of the SRA's anti-money laundering thematic review of firms offering trust and company services.
We are holding a number of free anti-money laundering training sessions across the country in April, May and June.
We have partnered with the government to remind practitioners of the positive impact that quality AML checks can have on tackling dirty money.
We explain the Financial Action Task Force's Mutual Evaluation report on the UK's anti-money laundering and counter-terrorist financing measures.
Download our leaflets to help you quickly inform your colleagues and clients of your AML 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.
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.