Money Laundering & Financial Crime

Guidance issued by both the SRA and NCA in the latter part of 2014,the SRA Risk Outlooks, the result of the purrunsing and hasting case. The Panama Papers, Brexit, the governments anti-corruption agenda and the wider international attention on corruption have all served to make compliance with anti-money laundering and counter terrorism law a great challenge for law firms.

Over 150 professionals have been punished under the Money Laundering Regulations 2007.

When the regulator or police visit a firm, they are very eager to know what training has been carried out and how well employees understand and implement policies in this regard.

This in-house course will cover important topics including but not limited to:

  • the width and breath of the definition of “criminal property”
  • the key offences under both money laundering and terrorism legislation
  • spotting warning signs and red flags
  • dealing with reporting suspicions – privilege, confidentiality, NCA consent
  • undertaking due diligence and on-going monitoring
  • is due diligence undermined by frauds?
  • the roles of: the MLRO, COLP, all staff
  • the Risk Outlook, SRA Guidance, key themes and points therein
  • case studies – what would you do?

The course may also include a discussion on the Bribery Act if desired:

  • the four Bribery Act offences and their significance to law firms explained
  • procedures around gifts and hospitality
  • developing an awareness to corruption risks
  • case studies – how can a firm forestall the risk of Bribery?