Tag: Client and Matter risk Assessments
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Technology Impact Assessment: Let’s Talk AML Software
Most firms today rely on slick AML tools to handle ID checks and source-of-wealth. Platforms like Thirdfort and CDDmonitor (digital CMRA) have quickly become the norm. But the rules have changed. Recent HM Treasury guidance and LSAG advisory notes have quietly reshaped what “good” looks like, and many firms haven’t caught up. It is no…
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The ghost client and AML risk for law firms in 2026
In 2026, one of the most serious anti money laundering risks facing law firms is the rise of synthetic identity fraud. These are not stolen identities, but entirely fabricated ones, built using a mix of real data such as National Insurance numbers and fake details including names, addresses and AI generated images. The result is…
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Independent AML Audit: How to Prepare
An independent AML audit shouldn’t be a frantic scramble to “clean up” files. True readiness means moving beyond basic documentation to ensure your internal capacity is prepared. By clearing calendars for interviews and pre-booking senior management reviews, you transform the audit from a stressful “check-box” exercise into a strategic health check. Don’t just show them…
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Client Matter Risk Assessments: Green Flags
In AML risk management compliance, the focus is usually on red flags. Spot the inconsistency, trust your instincts, escalate when something is off. But if you only ever look for what is wrong, you start to lose sight of what right actually looks like. Green flags matter. They are not just the absence of risk,…
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The AML Accountability Gap: Why Explainability Is the New Standard
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.…
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Client Matter Risk Assessments:Think First, Type Second, Tick Never
In the world of AML compliance, the Client Matter Risk Assessment is often viewed as the final hurdle before a file can truly get moving. For many fee earners, it is a chore, a list of questions to be “cleared” so the real work can start. According to recent SRA thematic reviews and industry insights,…
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Why Client Matter Risk Assessments are the Heart of AML
In the world of AML, lawyers mistake “onboarding” for a simple identity check. But if KYC is the handshake, then the Client Matter Risk Assessment (CMRA) is the deep-dive interview. To build a truly resilient AML compliance framework, law firms must move past basic identification and embrace a structured risk-based approach. Here is how CMRAs…
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The “Set It and Forget It” Client Matter Risk Assessment Trap
In the UK AML landscape, onboarding attracts the attention and transaction monitoring secures the investment. The auditors at Lexsure have noted during Independent AML audits that CMRAs are often completed at the outset but left alone thereafter. If you want to find the true unsung hero of a robust compliance framework firms need to focus…
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December 2025: The SRA’s AML Audit Crackdown Has Arrived
The Solicitors Regulation Authority (SRA) is intensifying its Anti-Money Laundering (AML) enforcement, conducting a record number of audits ahead of the FCA’s expanded oversight. Firms must prioritize compliance, as deficiencies found can lead to serious consequences. A compliance checklist highlights essential steps to prepare for increased scrutiny and potential fines.