AML Update for Support Staff 2025

‘Money Laundering’ is an odd phrase, conjuring up mental images of vast sums of drug money being handled by the Russian mafia and Colombian cartels.

The reality is much more down-to-earth. Everyone has the potential to be a money launderer and that is why all staff need to be constantly and consistently aware of the current thinking about how to prevent it.

The exasperation of the SRA and other regulators with the inability of some law firms to do their job properly has led it to require that firms undertake a full practice-wide risk assessment, full CDD and KYC with verification, a client risk assessment and a matter risk assessment and explain the rationale behind any assessment that is made in every case.

They also require that attention be paid to source of wealth enquiries and source of funds enquiries relating to the transaction itself and thus you end up with a regime that is being policed much more energetically than ever before.

This For Legal webinar provides you with an 60-minute session with Trevor Hellawell, who has shared his knowledge of the legal profession for over 25 years.

Learning Objectives:

• The key question – what IS money laundering?
• What does it mean to be a ‘gatekeeper’?
• SRA Warning Notices
• What do we have to do to comply?
  • CDD; e-ID&V
  • CRAs
  • MRAs
• What do all the acronyms mean?
• The crucial importance of Ongoing Monitoring
• What are the consequences of non-compliance