The Anti-Money Laundering and Countering Financing of Terrorism (Levy) Regulations 2026 were made by Order in Council on 7 September 2026 and come into force on 8 October 2026. They apply to the financial year beginning on 1 July 2027 and subsequent financial years. Under the Ministry of Justice funding model, banks and deposit takers…
Cayman LSSA announces publication of AML/CFT/CPF Guidance Notes
The Legal Services Supervisory Authority has announced the release of AML/CFT/CPF Guidance Notes for the Cayman Islands legal sector. The publication follows an industry consultation launched in June 2026, when supervised firms were invited to comment on draft guidance. The LSSA states that the guidance is intended to support supervised firms in understanding and meeting…
Law Institute of Victoria launches AML/CTF Hub for legal practitioners
The Law Institute of Victoria has made available an Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) Hub to support legal practitioners preparing for the new anti-money laundering and counter-terrorism financing regime. The hub includes practical learning opportunities, including an AML Kickstarter Workshop and an ACAMS Certificate in AML General Awareness for Law . The hub itself…
BRAK Guidance on new EU-AML Obligations for Lawyers and Bar Associations
The German Federal Bar (BRAK) has published an explanatory note on the increased AML obligations for lawyers under the new EU Anti-Money Laundering Regulation (EU 2024/1624). As the Regulation will be directly applicable from 10 July 2027, BRAK advises strongly that law firms subject to AML rules should start preparing now, to ensure that the new structures and processes are in…
Australia engages legal profession ahead of expanded AML/CTF obligations
Australian regulators and professional bodies have increased engagement with the legal profession ahead of the introduction of expanded anti-money-laundering and counter-terrorism-financing (AML/CTF) obligations for lawyers. Their recent briefings to lawyers have focused on the practical implications of bringing legal services more fully within the scope of financial crime regulation, including new requirements for client due-diligence,…
Pooled client accounts: Proposed changes risk placing substantial new burdens on solicitors
The Law Society of England and Wales has raised strong concerns regarding the UK Government’s proposed amendments to the Money Laundering, Terrorist Financing (Amendment and Miscellaneous Provision) Regulations 2025. The draft regulations would require solicitors to conduct full customer due diligence on all clients whose funds are held in pooled client accounts—bank accounts where a…
New European money laundering authority anti money laundering authority launched on 1 July
The new European Anti-Money Laundering Authority (AMLA) officially commenced operations on 1 July 2025, marking a significant step in strengthening the EU’s fight against money laundering and terrorist financing. Headquartered in Frankfurt am Main, AMLA was created under the EU Anti-Money Laundering Package, adopted in 2021 and in force since 9 July 2024. AMLA’s core…
New Zealand Law Society – law reform and advocacy update
The Law Society has continued its strong engagement in law reform and advocacy over the past quarter, making 12 submissions on Bills and 24 on government discussion documents. These efforts reflect their ongoing commitment to ensuring that legislation is principled, proportionate, and responsive to the needs of both the profession and the wider public. Recent…
Federation of law societies of Canada releases landmark report on anti money laundering regulation ahead of Financial Action Task Force review
On May 1 2025, the Federation of Law Societies of Canada released a landmark report detailing how Canadian law societies meet international Anti-Money Laundering (AML) standards, ahead of Canada’s scheduled review by the Financial Action Task Force (FATF). This report is the first of its kind to provide a comprehensive technical compliance analysis of how…
United Kingdom Companies House ID verification checks change
The Law Society of Scotland has addressed forthcoming changes to Companies House ID verification processes in an article dated 23 January 2025, with an update on 24 February 2025. Under the Economic Crime and Corporate Transparency Act, firms supervised under anti-money laundering (AML) regulations—such as Professional Service Providers like solicitors and accountants, and Trust and…