Anti-Money Laundering

Anti-Money Laundering, Counter Terrorist Financing and wider Financial Crime issues are near the top of the risk and compliance agenda for law firms and property professionals at present. Irrespective of the impact of Brexit, the core requirements of the Fourth EU Money Laundering Directive bringing into force the 2012 update to the FATF requirements were implemented on 26 June 2017. Key highlights of the 2017 Regulations can be found here.

Treasury approved Legal sector guidance is now available, see here.

The UK is due to be inspected by FATF in 2018.

We can assist you in meeting the updated requirements resulting from the Fourth EU Money Laundering Directive:

  • Conducting a risk assessment to understand the AML/CTF and other financial crime risks faced by the firm;
  • Implementing/updating of policies and procedures to reflect the risks identified;
  • Testing the effectiveness of the system via monitoring and management, audit and review;
  • Assistance with the client engagement process and incorporating risk profiling;
  • Training for MLROs, Compliance and Client engagement teams;
  • Training of ‘relevant employees’;
  • Advice to the new Money Laundering Compliance Officers on regulatory compliance;
  • Advice to Money Laundering Reporting Officers on suspicious activity reporting, legal professional privilege and the crime fraud exception.

We provide specialist legal advice on anti-money laundering and other financial crime issues to professional firms. See here.

For useful links see our Resources section here and for useful cases see here.