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…
Solicitors Regulation Authority publishes new anti-money laundering report
Work carried out to make sure solicitors keep criminals from using the profession to launder money has been detailed in a new review. The SRA have published their first professional supervisor report, a recent requirement placed on all supervisors by both the Money Laundering Regulations and guidance by the Office for Professional Body Anti-money laundering…
Solicitors Regulation Authority of England and Wales publishes latest annual reports
The Solicitors Regulation Authority (SRA) has published its suite of annual reports, which cover five core topics, these are: ‘Anti-money Laundering‘, ‘Authorisation‘, ‘Client Protection‘, ‘Education and Training‘ and ‘Upholding Professional Standards‘. Key findings from the reports include: There has been a year-on-year increase in the number of solicitors qualifying through apprenticeships, firms offering recognised training…
Watch the Nova Scotia Barrister’s Society’s webinar on anti-money laundering and client ID and verification
On the 9th of June, the Nova Scotia Barrister’s Society (NSBS) hosted a webinar entitled ‘Anti-Money Laundering/Client ID and Verification.’ This webinar was hosted by Caron Ferguson Eagan (NSBS Staff Lawyer, Education & Credentials) and presented by Jillian Barrington (in practice with Sheldon Nathanson Law), Bernadine MacAulay (NSBS General Counsel), and Elaine Cumming (NSBS Professional…
Legal Sector Affinity Group for England and Wales publishes new guidance on anti-money laundering and SRA sectoral risk assesment
The Legal Sector Affinity Group (LSAG) which is made up of representatives from the different regulatory and representative bodies in the legal profession, releases information and guidance for legal services professionals. The LSAG 2020 guidance provides a detailed commentary on recently amended UK regulations on money laundering (as well as the 2017 regulations). The LSAG…
Updated UK national risk assessment of money laundering and terrorist financing
The UK Treasury has published an updated UK National Risk Assessment of Money Laundering and Terrorist Financing. This follows the previous update from October 2017 and sets out the key money laundering and terrorist financing risks for the UK, and how these have developed since the first publication in 2015. Specifically, chapter 10 documents the…