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Why Every Law Firm Needs an Independent AML Audit—Before It’s Too Late

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If you run a law firm, you already know that AML compliance isn't optional—it's a regulatory necessity. But here’s the real question: When was the last time your firm had an independent AML audit?

With the Solicitors Regulation Authority (SRA) cracking down on AML compliance and the Legal Sector Affinity Group (LSAG) tightening its guidelines, law firms can no longer afford to overlook independent AML audits. The reality is simple: if you haven’t had an independent AML audit recently, your firm could already be at risk.

What Is an Independent AML Audit, and Why Does Your Firm Need One?

An independent AML audit is a critical review of your firm’s anti-money laundering policies, risk assessments, controls, and procedures. The key word here is independent—meaning it must be conducted by someone outside your AML compliance team.

Why is this so important? Because the SRA expects law firms to take AML compliance seriously, and that means ensuring your internal processes are being properly scrutinised by an objective expert.

A well-conducted independent AML audit not only helps you stay compliant but also:

  • Identifies weaknesses before regulators do.
  • Prevents fines and penalties from non-compliance.
  • Demonstrates your firm’s commitment to AML best practices.
  • Reduces risks associated with money laundering threats.

What Does an Independent AML Audit Cover?

An independent AML audit is more than just a compliance check—it’s a deep dive into your firm’s AML framework. A proper audit includes:

  • Reviewing AML policies, training records, FWRA and client matter risk assessments.
  • Testing the effectiveness of your existing AML procedures.
  • Analyzing automated AML compliance systems.
  • Interviewing staff members to assess their knowledge and adherence to procedures.
  • Reviewing files and suspicious activity reports.
  • Providing actionable recommendations to strengthen your compliance approach.

Why Law Firms Struggle With Independent AML Audits

Let’s be honest—many firms know they must have an independent AML audit but keep putting it off. There primary reason is that they dont want to 'lift carpet'

But delaying or failing to have an independent AML audit isn’t the answer. If the SRA knocks on your door tomorrow, will you be confident in your firm’s AML compliance?

Remote or On-Site? Get an Independent AML Audit on Your Terms

Lexsure, are one a number of specialists offering independent AML audits. Most companies conducting independent AML audit aim to ensure that their client firm meets every requirement under the Money Laundering Regulations and LSAG guidance.

Independent AML audits tend to include:

  • A full compliance check covering AML policies, risk controls, and reporting procedures.
  • A certificate of compliance to demonstrate due diligence.
  • Clear, practical recommendations to strengthen your AML framework.

Don’t Wait Until It’s Too Late—Book Your Independent AML Audit Today

The SRA isn’t slowing down, and neither should you. If your firm hasn’t had an independent AML audit recently, now is the time to act.

Avoid the risk of regulatory penalties and get ahead of compliance today. Contact Lexsure to schedule your independent AML audit—remote or in-office.

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