Tag: 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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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…
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Independent AML Audits : The High Street Firm’s Secret Weapon
The FCA’s shift toward “Impactful Deterrence” is already making waves, there is a specific regulatory transition looming that should have every High Street partner checking their risk register: the transfer of AML supervision. Currently, for most High Street firms, the Solicitors Regulation Authority holds the reins. But the landscape is shifting. The Financial Conduct Authority…