Full Description
Lawyers are required to take steps to prevent money launderers and terrorist financiers from making use of their services and there continues to be increased scrutiny from the regulators. Consequently, every provider of legal services must have effective anti-money laundering policies in place.
The new edition of the Anti-Money Laundering Toolkit will provide you with practical know-how about combatting money laundering and contains checklists, forms, policies and other templates to help you demonstrate compliance, all of which are available to download to enable easy customisation.
This fourth edition has been updated to take account of recent legislative and regulatory changes, including:
updated guidance from the Legal Sector Affinity Group on anti-money laundering and counter-terrorist financing
guidance on firm-wide risk assessments
the implications of the Economic Crime (Transparency and Enforcement) Act 2022
the changes introduced by the Economic Crime and Corporate Transparency Act 2023, including the new offence of failure to prevent economic crime
the SRA's power to levy unlimited fines for economic crime offences
the expectations of the regulators, including in relation to sanctions compliance
an update on using the National Crime Agency's portal.
Contents
Part 1. Setting the scene; 1. Assessing the risk for your firm; 2. Setting up systems and controls; Part 2. Client interface; 3. Client inception; 4. Due diligence during the retainer; 5. Managing risks around source of funds; 6. Making reports; 7. Client exit strategy; Part 3. Making sure it all works; 8. Training; 9. Record-keeping; 10. Monitoring compliance.
