AML Policies for Law Firms: Review, Update and Implement
Does your firm’s AML policy explain what staff must do, who makes the decisions and where the evidence is recorded? Useful policies connect the firm’s identified risks with practical instructions for client due diligence, risk assessment, source-of-funds scrutiny and escalation.
These articles help law firms review their AML documentation and examine whether the procedures are followed on client files. For ongoing drafting support, explore Lexsure’s AML Policy Update Service, which provides quarterly suggested amendments for SRA-regulated firms in England and Wales.
Your policy is written. Is it working?
Lexsure’s independent AML audits examine documentation alongside risk assessments, client files and staff understanding to identify gaps in wording and implementation.
Discuss an independent AML audit →
Discuss a review appropriate to your firm’s size, work and risk exposure. Responsibility for compliance remains with your firm.
-
The FCA is Coming: Why Your Next AML Audit is the Most Critical One Yet
A “changing of the guard” is underway in the world AML supervision. As recently reported by the Law Society Gazette, the UK government is moving toward a single supervisory model, with the FCA set to take over AML oversight from the SRA and other professional bodies. For many law firms, the reaction has been a…
-
New Firms, New Focus: Why the SRA is Closing the “Two-Year Gap”
For years, many newly established law firms felt they had a “grace period” before falling under the intense gaze of an SRA AML Audit. The logic was simple: without years of historical data or a track record of completed data questionnaires, these firms sat comfortably in a middle-of-the-road risk category. However, the latest OPBAS (Office…