As people move on, many firms are having to appoint people to roles in anti-money laundering (AML) and compliance who may feel that they are walking on a tightrope, not having been involved since the start of the compliance regimes which apply to Money Laundering Reporting Officers (MLROs), Money Laundering Compliance Officers, Compliance Officers for Legal Practice and Compliance Officers for Finance and Administration.
We provide mentoring and support to many in this position (and many experienced compliance officers and MLROs too) across a wide spectrum of firms, with legally privileged advice from practising solicitors who have all been involved in advising law firms over many years, even before the compliance regimes commenced. When a difficult decision is called for, the chances are that we have seen it before and can help cut through the process to answer questions such as ‘Do we have to report?’, ‘Can we carry on acting?’ or ‘Do we need to appoint a separate Money Laundering Compliance Officer?’
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