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.
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Six AML Policy Gaps Conveyancing Firms Should Check
Conveyancing firms’ anti-money laundering (AML) policies often lack clear guidance on handling unusual transactions or new technologies, despite SRA regulations. Lexsure’s audits reveal discrepancies between written procedures and practice. To enhance compliance, firms must regularly review and update their AML documentation, ensuring staff have practical instructions and consistent processes for various scenarios.
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AML Policy Updates October 2026: Five Areas Law Firms Should Review
The October 2026 AML Policy Update from Lexsure highlights five key areas needing review in firms’ AML and Sanctions Policies, including enhanced due diligence, sanctions licensing, and company verification. It emphasizes the importance of maintaining up-to-date policies, training staff, and ensuring compliance with legal requirements and risk assessments to prevent violations.