HM Treasury releases Anti-money Laundering and Countering the Financing of Terrorism: Supervision Report 2020-2022

HM Treasury has released a report : Anti-money Laundering and Countering the Financing of Terrorism: Supervision 2020-2022. The report, which was published in December 2022, reports on the activity and performance of legal pubic body supervisors in tackling anti-money laundering. The key findings in the report are as follows: inadequate documented policies and procedures inadequate…

Law Society of Scotland to introduce new anti-money laundering attestation process

The Law Society of Scotland’s Anti-money Laundering team has launched a new supervisory attestation process. This new process is set to reach practices which do not fall under the scope of the AML team’s full high risk inspection process. The new process will see the selected practices provide assurances across the 36 Key Compliance Principles…

The EU Anti-money Laundering Authority will be coming into force in 2023

A comprehensively updated EU anti-money laundering policy is set to establish the EU Anti-money Laundering Authority (AMLA) as part of its plan to tighten controls on money laundering and the funding of terrorism. The EU Anti-money Laundering Authority (is one of four legislative proposals about AML) will have a direct impact on the legal profession…

The NOvA publishes updated guidelines for lawyers and firms on anti-money laundering

The new manual outlines tools to help lawyers and law firms comply with the obligations set out in the Money Laundering and Terrorist Financing Prevention Act (Wwft). These include which lawyers are (not) subject to the Wwft, what services are subject to the Wwft and which fall under the so-called process exemption, what the customer…

Making sense of professional enablers’ involvement in laundering organized crime proceeds and of their regulation

Money laundering has ascended the enforcement and criminological agenda in the course of this century, and has been accompanied by an increased focus on legal professionals as ‘enablers’ of crime. This article explores the dynamics of this enforcement, media and political agenda, and how the legal profession has responded in the UK and elsewhere, within…

The Solicitors Regulation Authority of England and Wales held a webinar on Anti-Money Laundering and how to conduct a risk assessment

The Solicitors Regulation Authority held an Anti-Money Laundering Webinar covering: risk assessment areas firms are getting wrong good practice in other law firms from our latest round of AML visits how to get your firm-wide risk assessments right and make it the backbone of your AML controls. The webinar is now available to watch online…

Making sense of professional enablers’ involvement in laundering organized crime proceeds and of their regulation

Money laundering has ascended the enforcement and criminological agenda in the course of this century, and has been accompanied by an increased focus on legal professionals as ‘enablers’ of crime. This article explores the dynamics of this enforcement, media and political agenda, and how the legal profession has responded in the UK and elsewhere, within…

Making sense of professional enablers’ involvement in laundering organized crime proceeds and of their regulation

Abstract: Money laundering has ascended the enforcement and criminological agenda in the course of this century, and has been accompanied by an increased focus on legal professionals as ‘enablers’ of crime. This article explores the dynamics of this enforcement, media and political agenda, and how the legal profession has responded in the UK and elsewhere,…

Nederlandse Orde Van Advocaten, the Dutch bar, has set up a taskforce to increase support for lawyers facing risks of being used by organised crime

Nederlandse Orde Van Advocaten has set up a taskforce to better protect those working within the legal profession against threats from organised crime and illicit finance. The taskforce aims to increase the rule of law, awareness of the legal profession and improve the security of lawyers by increasing their resilience and improving safety measures. This…

The Solicitors Regulation Authority of England and Wales annual compliance officers conference goes hybrid

This key annual conference attracted 600 people to the face-to-face event, followed by more than 33,000 views of virtual sessions the following week. The programme covered topics including: Money laundering The SQE and what it means for your firm Innovation and technology – how can technology help firms spot risks and comply with regulatory obligations…