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By Ian East

Anti-Money Laundering and the 5th Money Laundering Directive

For the legal sector Ant-Money Laundering (AML) is currently a very hot topic with the SRA being very proactive and the recent implementation of the Fifth Anti-Money Laundering Directive (5 MLD) to consider.  Before considering the new changes, it may be useful to look at the AML situation in general and consider how compliant your firm is.  This is certainly an area that law firms must ensure that they are fully compliant with or run the risk of disciplinary, and possibly criminal, sanctions.