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Oxfordshire lawyer to be Prosecuted by SDT for AML Concerns

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The SRA has referred an Oxfordshire a lawyer to the Solicitors Disciplinary Tribunal for prosecution. The Tribunal certified that there is a case to answer in respect of allegations which include that the lawyer :-

1. Between around January 2020 and July 2022, failed to keep and maintain accurate accounting records for the Firm. 

2. From around January 2020 to July 2022, caused or allowed a client account shortage on the Firm’s client account. 

3. From June 2017 to around October 2022, failed to have in place: 

3.1 An AML Firm Wide Risk Assessment (‘FWRA’) as required by Regulation 18 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (‘MLRs 2017’);

3.2 Anti-money Laundering Policies, Controls and Procedures (‘AML Policies’) as required by Regulation 19 of the MLRs 2017. 

4. On or around 12 December 2019, made a declaration to the SRA which was false and misleading in that it confirmed that the Firm had in place a fully compliant FWRA as required by regulation 18 of the MLRs 2017 when, in fact, there was no such FWRA in place. 

5. Between 1 January 2022 and 31 March 2022, and in relation to the purchase of a property by Client A, caused or allowed the Firm to fail to comply with the MLRs 2017 in that the Firm: 

5.1. Failed to conduct adequate client due diligence (‘CDD’) measures as required by Regulation 28 of the MLRs 2017; 

5.2. Failed to apply enhanced due diligence (‘EDD’) as required by Regulation 33 of the MLRs 2017;

The allegations are subject to a hearing before the SDT and, as at today’s date are unproven. 

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