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Economic crime costs the UK around £88 billion each year, with the UK in second place for global money laundering (beaten only by the US). In addition, the legal sector continues to be assessed as “high risk” for money laundering exposure   – especially when it comes to conveyancing, trust, and company services.

Before the pandemic, most law firms across the UK had started the journey towards digital transformation. But historically the sector has been slow to recognise and adopt technological advancement.

The annual anti-money laundering (AML) report from the Solicitors Regulation Authority (SRA) revealed that, while most solicitors and law firms are taking their AML obligations seriously, a “small minority” are not yet doing enough to fight economic crime.

Do away with the pen, enhance your remote working model, communicate effectively and provide faster document execution with Minerva’s eSignature and SMS functionality.

With a change of PM, a mini-budget that caused a mini-crisis, a recession on the way and Brexit still simmering away in the background. Government intervention has shifted some of the cost of the energy crisis from the private to the public sector. Still, for businesses, the reprieve is only temporary, and for many households, it may be offset by higher mortgage costs.