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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Independent AML Audit: Is Your Firm Prepared for the 2028 FCA Takeover?
Robust anti-money laundering (AML) controls are critical for law firms. The SRA emphasizes practical compliance over mere documentation. A Reg 21 Independent AML Audit is essential for assessing risks, due diligence, and governance. As scrutiny intensifies, firms should prioritize these audits to foster a culture of compliance and avoid FCA sanctions.
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Bank of Scotland Sanctions Fine: Lessons for Law Firms
Updated October 2026: This article has been revised to reflect the official OFSI penalty notice, the SRA’s sanctions guidance and the replacement of the former OFSI Consolidated List by the UK Sanctions List. A sanctions screening system returned no match. The customer presented a British passport. The account was opened. But the individual was a…