SRA AML Audit
Articles on SRA anti-money laundering audits and inspections of law firms, including common findings, firmwide and client matter risk assessments, policies, due diligence and the steps firms can take to address compliance gaps.
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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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The FCA is Coming: Why Your Next AML Audit is the Most Critical One Yet
A “changing of the guard” is underway in the world AML supervision. As recently reported by the Law Society Gazette, the UK government is moving toward a single supervisory model, with the FCA set to take over AML oversight from the SRA and other professional bodies. For many law firms, the reaction has been a…