The FCA is set to utilize Palantir’s data analytics software to enhance Anti-Money Laundering regulation across law firms. This shift aims to identify high-risk behaviors and improve efficiency, but raises concerns about privacy and legal confidentiality. Firms must prioritize data accuracy to avoid unnecessary audits in this changing landscape.

As of May 2026, tax advisers in the legal sector, particularly conveyancing practices, must complete mandatory HMRC registration, which hinges on Anti-Money Laundering (AML) compliance. Firms must update their AML policies, prepare for thorough audits, and ensure all relevant individuals are vetted to avoid registration refusal and filing blocks.

For many firms, the Firmwide Risk Assessment is a document that sits in a digital drawer, updated only when the SRA sends a nudge. But as we move through 2026, the regulatory landscape has shifted. The Money Laundering and Terrorist Financing (Amendment) Regulations 2026 have arrived, and with them, a new set of expectations that… Read more: Firmwide Risk Assessment: Time for a Refresh?