AML update, including new sectoral reviews and warning notices

The exasperation of the SRA and other regulators with the ineptitude of law firms to undertake their duties with due diligence has come to fruition in the actions taken against several high-profile law firms for their failure to adhere to their own policies, and in the publication of a sectoral review as well as a fresh warning notice, with templates.

These emphasise the fact that firms need to undertake a full practice-wide risk assessment, a client risk assessment and a matter risk assessment and explain the rationale behind any assessment that is made in every case.

Couple that with the increased attention to source of wealth enquiries, and resourcing issues, and you have a regime that is being policed much more energetically than ever before.

This webinar covers the following topics:

• Update of the AML regime, including new Acts of Parliament
• SRA sectoral review and warning notice
• New LSAG addendum
• What firms must do to comply
• PWRAs, CRAs and MRAs
• Ongoing monitoring