The SRA believe that keeping money launderers out of legal services has long been a priority. It is important that everyone working in the legal sector understands their responsibilities under UK legislation and role within the AML framework of their firm. As the gatekeepers to purchasing property, setting up companies, providing tax advice and other key activities; solicitors have an essential role in making sure the proceeds of crime are kept out of the UK economy.
Who Should Attend:
- Money Laundering Reporting Officer
- Employees who have recently been given or aspire to be given AML compliance responsibilities
- Money Laundering Compliance Officer and those with management responsibility for AML compliance employees
- Any person who wishes to acquire an understanding of fundamental AML compliance principles
- Understand the fundamentals of money laundering and nature of the UK threat
- Appreciate the vulnerabilities of the legal sector to money laundering, terrorist financing and sanctions evasion
- Recognise the regulatory requirement and benefits of an effective risk assessment including the mandatory Practice Wide Risk Assessment
- Apply the correct level of due diligence appropriate to a situation, considering risk and legal requirements
- Understand the characteristics of an effective due diligence profile
- Evaluate the impact of new technology upon compliance in the legal sector
The aim of this training is to provide staff with an understanding of money laundering and how it impacts upon the UK legal sector.
Interactive training will examine various scenarios, considering the key risks and identifying information that needs to be collected to meet regulatory requirements. Engaging instructor-led training will look beyond the theoretical to support understanding and application of practical principles.
Typologies used by criminals, such as complex corporate structures and the use of intermediaries, will be examined in real-life case studies.