AML - Maintaining compliance in uncertain times

VinciWorks

Keeping money launderers out of legal services has long been a priority of the SRA. In 2021, the SRA visited an average of 7 law firms a month to check on their money laundering systems. The majority were told to make changes to the way they work. Further, in its latest threat assessment, the National Crime Agency (NCA) estimated that at least 70,000 people are engaged in serious organised crime in the UK, with upwards of £12bn in criminal cash generated annually. In this episode, Compliance Office Founder and Director Andy Donovan, and VinciWorks Head of Legal and Product Research Ruth Mittelmann Cohen discuss the SRA’s findings and how firms can maintain AML compliance.