Are you updated on the SRA Risk Outlook updates and the 4MLD?


Lawyer CheckerFor fraudsters, conveyancing is a prime target. With transactions involving thousands of pounds and correspondence often occurring online, it’s no wonder that it’s the most popular area of legal practice for criminals to take advantage of.

Whilst the profession has recognised the importance of combating these issues, the real question is whether enough is being done. 

As the security of law firms develops, as do the techniques of the criminals. Whilst cybercrime challenges are not new, many of the technologies and methods that fraudsters use will be. This means that despite increased efforts to reduce risk, any slight lapse in security could have serious consequences for both the firm and the client. 

Now more than ever, solicitors need to be vigilant and ensure that their compliance and due diligence policies are up to date.

Are you keeping on top of the risk?

Cybercrime was recently highlighted in the SRA’s updated Risk Outlook as one of the prime areas of risk for legal professionals. Named as the biggest target for this kind of fraud, conveyancers were reminded that protection is essential and to ensure security is regularly updated. Given that half of all email-modification fraud reported to the SRA are against conveyancing proceeds, it’s clear that this is not the case. 

How do you know you’re doing enough?

In a climate of increased media coverage and heightened awareness, protection from risk is likely to be at the forefront of conveyancers’ minds. In order to ensure that security is at its highest level, it’s essential that prevention strategies are taken seriously and checks are adopted on a wide-scale basis. Regular use of Lawyer Checker’s Account & Entity Screen and Consumer Bank Account Checker can support this, as well as gaining knowledge on new guidance and legislation such as the upcoming 4th Money Laundering Directive (4MLD).

Over the next two weeks, we will be hosting free webinars to make sure that you are fully informed on the importance of being protected. 

As well as ensuring that you’re complying with the latest regulatory requirements, we will also highlight the most current risks and how you can keep protected against them.

Topics that will be covered include:

  • Your regulatory requirements
  • The COLP/HOLP
  • 4th Money Laundering Directive
  • Cybercrimes
  • Identification Theft
  • Employee Fraud

Make sure that you’re protecting your firm against the latest risks by registering for one of our free webinars today, being hosted on 14th June and 19th June 2017.

Click here to register for the “Risk & Compliance for Conveyancers 2017” webinar.

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