Anti Money Laundering
-
Firmwide risk assessments: turn the SRA framework into a document that reflects your firm
A firmwide risk assessment (FWRA) should explain how your firm could be exposed to money laundering and terrorist financing, and what you do about those risks. It is not a generic AML statement or a form to complete once and file away. It is the firm-level foundation for your policies, controls and procedures, and it…
-
FCA Compliance Checklist: Is Your Law Firm Ready for the New AML Supervisor?
Law firms should prioritize demonstrating the effectiveness of their existing anti-money laundering (AML) controls before the FCA begins supervision in 2028. A comprehensive FCA compliance checklist will help firms assess their current practices, risk assessments, and policies to ensure readiness. Proactive measures are essential to address potential weaknesses ahead of regulatory changes.