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.
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Independent AML Audits for Conveyancing Firms: What Should File Testing Reveal?
An independent AML audit for conveyancing firms must assess the effectiveness of anti-money laundering controls through actual client file reviews. This process ensures that written policies translate into proper actions, highlighting risks and compliance. Regular audits help identify weaknesses, reinforce proper procedures, and ensure client funding sources are legitimate and scrutinized.
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When AML Risks Change, Is Your Compliance Framework Updated?
The latest AML notification addresses commercial property, cash intensive high street businesses and pooled client accounts. It demonstrates why emerging risks must be reflected across the FWRA, AML policy, CMRA and training programme.