CQS AML Policy
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SRA AML Audit Results in £23k fine
Originally published March 2024. Updated October 2026. An SRA AML fine of £23,035.50 illustrates the consequences of failing to undertake client and matter risk assessments. The case concerned a sustained gap in the firm’s AML arrangements, despite the absence of material harm. For conveyancing firms, the practical question is whether sampled files demonstrate that risk…
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How do the SRA decide which CQS firms to inspect?
The SRA adopt a risk-based approach to AML supervision. The SRA visits a greater number of firms classified as high risk, while also conducting visits to low and medium-risk firms. It is important to note that a visit does not automatically imply that your firm is deemed high risk for potential money laundering activities. To…