Anti-Money Laundering Toolkit 4th ed

Lawyers are required to take steps to prevent money launderers and terrorist financiers from making use of their services and there continues to be increased scrutiny from the regulators. Consequently, every provider of legal services must have effective anti-money laundering policies in place.

The new edition of the Anti-Money Laundering Toolkit will provide you with practical know-how about combatting money laundering and contains checklists, forms, policies and other templates to help you demonstrate compliance, all of which are available to download to enable easy customisation.

This fourth edition has been updated to take account of recent legislative and regulatory changes, including:

• updated guidance from the Legal Sector Affinity Group on anti-money laundering and counter-terrorist financing
• the implications of the Economic Crime (Transparency and Enforcement) Act 2022
• the changes introduced by the Economic Crime and Corporate Transparency Act 2023, including the new offence of failure to prevent economic crime
• the SRA’s power to levy unlimited fines for economic crime offences
• the expectations of the regulators, including in relation to sanctions compliance
• an update on using the National Crime Agency’s portal

table of content

Part 1. Setting the scene

1. Assessing the risk for your firm

2. Setting up systems and controls

 

Part 2. Client interface

3. Client inception

4. Due diligence during the retainer

5. Managing risks around source of funds

6. Making reports

7. Client exit strategy

 

Part 3. Making sure it all works

8. Training

9. Record-keeping

10. Monitoring compliance