The Solicitors Regulation Authority has published an anti-money laundering and terrorism financing risk assessment. The report aims to assess the risks associated with money laundering and terrorist financing in different sectors. The report provides an overview of the risks associated with different sectors, including banking, insurance, and securities. It also provides information on the regulatory framework and the measures that can be taken to mitigate the risks associated with money laundering and terrorist financing.
Firms within the scope of SRA regulation have an obligation to comply with all requirements of the SRAs AML regulation and must take appropriate steps to identify, assess and maintain a written record of their risk of being used for money laundering or terrorist financing.