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AML update – the focus on AML is going nowhere anytime soon!

Access LegalBy Legal Futures Associate Access Legal [1]

Our latest quarterly update webinar started with a view of the current anti-money laundering landscape including:

One comment I see frequently in blogs is around why law firms should play their part in reducing money laundering when the government is slow in enacting AML legislation and banks and other large corporate entities are seen to be getting away lightly with facilitating money laundering; the short answer is, they haven’t got the SRA looking over their shoulders!

A recent survey we undertook found that 84% of compliance officers were kept awake at night over concerns about complying with AML obligations, and this is understandable when looking at the findings of the SRA and the sanctions they have been handing out to non-compliant firms!

Our quarterly updates are intended to help compliance officers sleep a little better by providing them with updates around key areas of concern and practical examples of how they should be meeting their AML obligations; this update was no different and covered the following topics:

At the end of the webinar, we had a significant number of related questions, some of which we were unable to answer due to time constraints, but it is well worth registering with us so you can watch the recording and listen to what we said and the answers we gave.

Don’t forget, make sure that anything you do in relation to anti-money laundering is noted, including that you have read this blog and/or viewed our update webinar; it all goes to show the regulator that you take your obligations in this area very seriously!

Watch the webinar on demand [2]