FCA AML Audit
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The Independent AML Audit; Why it Matters
Under Regulation 21 of the MLRs, UK law firms are required, where appropriate to the size and nature of the business, to establish an independent audit function. This is no longer a “check-the-box” exercise; it is a critical risk management tool. On the flip side, a poorly executed Independent AML Audit can lead to public…
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Client Matter Risk Assessment: Automation
The majority of law firms continue to use paper-based Client Matter Risk Assessments, but there is an inevitability regarding the shift from manual to automated processes. Even now, one could argue it is almost a regulatory necessity. As law firms navigate increasingly complex AML regulations and the prospect of the FCA as a regulator in…