The majority of law firms continue to use paper-based Client Matter Risk Assessments, but there is an inevitability regarding the shift from manual to automated processes. Even now, one could argue it is almost a regulatory necessity. As law firms navigate increasingly complex AML regulations and the prospect of the FCA as a regulator in… Read more: Client Matter Risk Assessment: Automation

I recently joined a roundtable discussion with several MLROs to dive into the evolving world of Client Matter Risk Assessments (CMRAs). The conversation moved quickly past the “tick-box” mentality, focusing instead on how forward-thinking firms are reframing these assessments as continuous strategic assets rather than administrative hurdles. Here are the three biggest takeaways from the… Read more: Client matter risk assessment: Balancing compliance with conveyancing momentum

Law firms are right to be uneasy about autopilot AML compliance. “The algorithm said so” is never going to be an acceptable answer to a regulator. In the eyes of the SRA, and potentially the FCA in due course, handing total authority to software is not innovation. It is a shortcut to serious regulatory penalties.… Read more: The AML Accountability Gap: Why Explainability Is the New Standard