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AML - Know Your Client's Business...and more [2023]
Webinar Details
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NEW FOR 2023! This 1 hour webinar is presented by Trevor Hellawell and provides an essential and useful update.
What steps do we have to take, exactly, when taking on new clients (or even re-taking on old ones)? The things we must now do have been refined, especially since the Russian incursion into Ukraine in February 2022 and much more is entailed than simply asking a client for his passport and utility bill. We will discuss
- Legal Sector Affinity Group guidance (approved July 2022) on how to comply with the Regulations, in particular
- Performing due diligence enquiries, including ongoing CDD and enhanced CDD
- Technology – uses and considerations
- Capturing client information
- New duties in relation to the beneficial owners, including the Register of Overseas Entities
- Companies House enhancements
- Identifying and evidencing the source of funds AND the course of wealth
- Record keeping & data protection
- What evidence do we need to get, keep and record?
- What more can we do?
Key points to take away:
- The importance of undertaking thorough CDD – even if it feels un-necessary
- Key information that we need on the ultimate, individual beneficial owner
- How do you manage to have so much money? - source of WEALTH enquiries, not just source of funds
- Ongoing Monitoring – the key to success
- Record everything – if in doubt, write it down
Have you considered upgrading to our 4-hour SRA Mandatory Learning Bundle?
Firms are already seeing an increase in SRA audits of firms’ compliance with the Code of Conduct for Firms; therefore, it is fundamental that you and your team are up to date on your SRA competency standards.
This package provides 4 hours of essential mandatory CPD training, designed to be applicable to all lawyers, ensuring your skills are up to SRA standards in accordance with the competency statement.
Webinar Details
Available now
Expires after 90 days
Trevor Hellawell MA (Cantab)
CPD Hours: 4
£120.00