Independent AML Audit
Independent AML audit guidance for solicitors and law firms. Explore practical articles on reviewing AML policies, firm-wide risk assessments, client and matter risk assessments, file evidence and the effectiveness of day-to-day controls.
Written for managing partners, MLROs and compliance teams, these articles examine common weaknesses, lessons from regulatory findings and how to turn audit recommendations into improvements across the firm.
How well do your firm’s AML procedures work in practice? Explore Lexsure’s Independent AML Audit service:
https://home.lexsure.com/independent-aml-audits
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SRA AML Audits on the Increase
I have seen a huge increase in calls today to our audit helpline from conveyancing firms selected by the SRA for an AML inspection. Not the sort of communication firms wish to receive on a Friday. Surely the SRA can send these communications between Monday and Thursday. Many of the firms that I am talking…
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Source of Wealth Declaration Forms – Not Yet the Conveyancing Norm
Source of Wealth Conveyancing AML: 95% of Audited Files Fail AML Standards A report prepared by the Lexsure’s Independent AML Audit team last week revealed that only one in 20 firms audited by Lexsure in 2022 had any Source of Wealth Declaration Forms completed on their conveyancing files. Of the firms that did have such…