Independent AML Audits for Solicitors
Independent AML audits help solicitors’ firms assess whether their policies, risk assessments and controls work in practice. Explore the articles below for guidance on audit scope, file testing, independence and responding to findings. For specialist support, visit Lexsure’s dedicated Independent AML Audit website to discuss a review appropriate to your firm’s size, services and risk exposure.
Would your firm’s AML controls withstand independent scrutiny?
Your policies describe what should happen. Your client files, risk assessments and staff understanding reveal what happens in practice.
Lexsure’s independent AML audits examine that relationship, helping solicitors’ firms identify gaps and prioritise improvements.
- Review AML policies and firm-wide risk assessments.
- Test client files, due diligence and source-of-funds scrutiny.
- Assess staff understanding and escalation procedures.
- Identify weaknesses and practical corrective actions.
Visit our dedicated audit website to explore the service and arrange an initial discussion about your firm’s requirements.
Discuss your firm’s independent AML audit →
An audit supports management oversight. Responsibility for AML compliance remains with your firm.
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£2.6m in AML Fines: Why Improving Compliance Is No Reason to Relax
The SRA’s Anti-Money Laundering Annual Report highlights substantial improvements in compliance alongside ongoing enforcement, with fines totaling £2.6 million. Conveyancing firms must review their AML controls and address weaknesses. Effective evidence and independent audits are crucial for demonstrating compliance and ensuring that policies align with actual practices and risks.
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Your CMRA Says “High Risk”. What Happened Next?
The text discusses the importance of effective client and matter risk assessments in conveyancing, emphasizing that merely having a risk rating is insufficient. It outlines the need for documented procedures linking risk evaluations to appropriate actions, enhanced due diligence, and monitoring, ensuring that operational decisions are informed by identified risks and compliance with SRA guidance.