SRA
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SRA AML Audits on the Increase
I have seen a huge increase in calls today to our audit helpline from conveyancing firms selected by the SRA for an AML inspection. Not the sort of communication firms wish to receive on a Friday. Surely the SRA can send these communications between Monday and Thursday. Many of the firms that I am talking…
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How do the SRA decide which CQS firms to inspect?
The SRA adopt a risk-based approach to AML supervision. The SRA visits a greater number of firms classified as high risk, while also conducting visits to low and medium-risk firms. It is important to note that a visit does not automatically imply that your firm is deemed high risk for potential money laundering activities. To…