How to spot the signs of human trafficking
Human trafficking, second only to drug trafficking, stands as one of the fastest-growing illegal enterprises worldwide. If we look beyond the immense human costs, it becomes evident that where human
Legal Compliance
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What are matter based risk assessments?
Matter-based risk assessments were introduced in the 2017 Money Laundering Regulations (MLR). Fundamentally, the idea is you’re supposed to look at the client and matter, and decide how risky it
How to prepare for a cyber attack
Knowing how to prepare for a cyber attack is extremely important. This is especially so when you have a duty to protect your client’s data. Most of us have faced
The Case of Nirosha Jayawardena and its Nine Key Lessons
In an ever-changing landscape, keeping abreast of new developments is essential in the legal profession. This week, I delved into the intriguing case of Nirosha Jayawardena, a solicitor who recently
Delegating CDD Responsibilities between Lawyers and Central Teams
As regulatory frameworks have evolved over the years, law firms have increasingly had to grapple with the challenge of managing Client Due Diligence (CDD) requirements. The introduction of the Money
New SRA fining powers for AML – Be careful as they’re going to use them!
The Solicitors Regulation Authority (SRA) has long desired more robust punitive capabilities against traditional law firms. They have historically possessed the ability to impose significant fines on Alternative Business Structure
What does an AML audit involve?
We love an AML audit and really enjoy reviewing law firms’ policies and procedures to see the different approaches they take in respect of AML. Most of all, we find
Anti-Money Laundering – What to expect from an Independent Audit
Regulation 21 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (otherwise known as the Money Laundering Regulations) requires that regulated firms
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
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