The legal industry can be a mixture of things, both good and not so good. People tend to focus on the things that drive them, whether it’s the bottom line of fee income, helping clients or having to make what some people may see as ruthless decisions for the success…
The Teal Compliance and Lockton Conference 2018 takes place on the 26th April 2018 in London. With so much change afoot in the world of compliance, the theme for this year’s conference is ‘Navigating a year of change’. As a team we have all been working hard to…
I have been training in AML for 13 years. I love it, I love spreading the word, helping staff in law firms understand the risks they face, and what to look out for to try and identify someone trying to use them to launder money. Sopranos, The Wire,…
The draft Data Protection Bill [HL] 2017-19 will get it’s second reading in the House of Commons today, Monday 5th March 2018, moving one step closer to receiving Royal Assent. In preparation for the second reading, the House of Commons issued a 60-page briefing paper which includes a summary of…
Regulation 21 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 requires that a firm which is regulated, implements internal controls where appropriate to the size and nature of the firm. These controls are: 1. Appoint a person to be…
At the start of 2018 most us will have sat down and set personal new year resolutions. There are two questions I would ask: How many of those resolutions are you maintaining? Out of those resolutions, were any of them business focused? Whether you are the decision…
‘DPO’, or Data Protection Officer is the person in a business who has been appointed to deal with all data privacy related matters. Under the current Data Protection Act there are no mandatory requirements to appoint a DPO, although some businesses that process a high volume of data may…
I was recently at an event speaking about anti- money laundering legislation. As my attentive audience sat eagerly taking notes, one delegate raised her hand to ask about client verification, and the how’s of doing it correctly. Silence struck the room quite quickly as the realisation hit all the…
As we are all aware, the GDPR implementation deadline of 25th May 2018 is fast approaching….. in fact it’s just over 15 weeks away. But were you also aware that the requirements for data controllers to register with the ICO, and the fees for registration are changing on 1st…
The wicked, the criminals, are continuously innovating, and creating new ways to make money out of crime. They are also money laundering, on an epic scale. The scale of money laundering in the UK is thought to be £90bn a year. 2017 was a year of change in…
