Client and Matter Risk Assessments for Conveyancers
Effective client and matter risk assessments should explain the risks, inform due diligence and remain under review as a transaction develops. Explore practical guidance for conveyancers on risk ratings, mitigation, approvals and recording decisions. Discover how Lexsure’s CDDmonitor can support a structured digital CMRA process, tailored to your firm’s risks and procedures.
Does your CMRA explain the risk and what happens next?
A completed form or selected risk rating does not, by itself, demonstrate an effective assessment. Your records should explain the risks identified, the measures taken and the reasoning behind the decision to proceed.
CDDmonitor helps conveyancing firms structure and record client and matter risk assessments, with configurable templates, escalation settings and reviews as matters develop.
- Record the reasoning supporting risk ratings.
- Tailor questions to your firm-wide risk assessment.
- Document mitigation measures and configure escalation.
- Reassess matters when new information emerges.
- Retain timestamped assessment records for review.
Explore the digital CMRA service and consider how it could support your firm’s assessment, approval and monitoring procedures.
Explore CDDmonitor’s digital CMRA service →
Technology supports the process. Professional judgement and responsibility for AML compliance remain with your firm.
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Nine Years Without a Documented FWRA: What This SRA Fine Teaches
An SRA desk based AML review found that a small London practice had operated for almost nine years without a documented firm wide risk assessment and could not produce CMRA records on half the files examined.
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The FCA Is Set to Take On Legal Sector AML Oversight: What It Means for Law Firms
The UK government announced that the FCA will start supervising anti-money laundering (AML) for legal professionals by late 2028, unifying oversight previously handled by multiple bodies. FCA AML audits are on the way. The transition mandates stricter compliance standards and emphasises effective control measures, urging law firms to prepare well in advance.