AML – Sanctions, Fraud and six-figure penalties from the SRA [2024]

Webinar Details

Available from 20th March 2024

Expires after 90 days

Trevor Hellawell MA (Cantab)

CPD Hours: 1


Book Now!
NEW FOR 2024! This 1 hour webinar is presented by Trevor Hellawell and provides an essential and useful update.

PLEASE NOTE: This SRA Webinar will be viewable from 20th March 2024.

As the SRA maintain their unremitting pressure on law firms to ensure we are doing all we can to counter money laundering, terrorism and proliferation financing, the AML regime continues to intensify. With increased attention focussed not only on practice-wide risk assessments, client and matter risk assessments, source of wealth and source of funds enquiries (and increasingly the obligation to get corroborative proof of what we are told) as well as paying special regard to the sanctions position generally, the burdens on us all continue to mount. Couple that with a six-figure fine imposed on a major law firm for failing to carry out things properly in matters undertaken in 2017 and 2018 and the future looks grim indeed.

This seminar will explore:

  • Regulators’ investigations – key enquiries and things to focus on
  • Key financial crimes, including sanctions list guidance and counter proliferation financing
  • Key PoCA duties and legislative risks
  • Overlaps with frauds and scams; new provisions in the Economic Crime Act 2023
  • New NCA Suspicious Activity Reporting portal
  • Risk assessments of clients and matters – key inclusions
  • CDD – the key aspects:
    • Getting the key documentation
    • Vetting the key documentation
    • Source of wealth and funds investigations

Other considerations – high-risk countries, PEPs & ongoing monitoring

Key points to take away:

    • The importance of undertaking thorough CDD – even if it feels un-necessary and burdensome
    • Do we need to review all our old files?
    • The implications of the SRA’s enhanced enforcement activity
    • Key elements in risk assessments
    • 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