Do you have to collect CDD on employees of clients?
This is a question I get asked loads of times! In fact, last week I had a client who has a policy of asking for ID for employees, and their
Anti-Money Laundering
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Economic Crime (Anti-Money Laundering) Levy
With all that is going on at the moment, its quite likely that you are not aware that the Government has introduced the Economic Crime (Anti-Money Laundering) Levy. This previously
Anti-money laundering top 10 tips
The legal sector is vulnerable to money laundering – and we’re here to help law firms with compliance and training, and make sure you’re fully equipped to ‘stop the baddies’. The credibility of a
Think you’re not a Tax Adviser? Think again!
On 23 November 2020 the SRA released guidance that may have been missed by many of you. What’s the purpose of the SRA Guidance? The purpose of the guidance was
New AML Guidance needs a careful review
On 20th January 2021 the Legal Sector Affinity Group (LSAG) finally issued their new draft AML guidance for law firms. Since 2017 LSAG have agreed to issue one sector wide
A look at the new Freelance Solicitor Model
In November 2019, the SRA introduced a new model of operating for so-called ‘freelance solicitors’. The intention of the freelance solicitor model was to allow solicitors greater flexibility when providing
What is a Politically Exposed Person (PEP) and how do I know if my client is one?
The SRA expect solicitors and firms to continue to meet the high standards the public expect (which includes upholding the rule of law). It’s therefore important to ensure that all
Who should certify client identification documents and what should they check?
Some of the certifications I’ve seen on client identification documents that fee earners have uploaded as part of their client due diligence checks, have led me to raise an eyebrow.
The Benefits of Electronic Verification
The world of electronic verification is an ever-evolving industry, with some providers supporting features like facial recognition, authentication of documents, direct access bank account information, and PEP and Sanctions screening.
Preventing a repeat of Dreamvar
Dreamvar – more than a year on …….. so, what has changed? It’s likely most conveyancers will shudder when they hear the name Dreamvar. It’s the case that changed the