AML in practice: What the Law Society’s SARs review means for Scottish legal firms
The Law Society of Scotland’s Suspicious Activity Reports (SARs) Thematic Review, published in partnership with the UK Financial Intelligence Unit (UKFIU), marks one of the most comprehensive examinations of how Scottish legal practices handle their anti-money laundering (AML) reporting obligations. This is more than a technical report. It’s a practical mirror held up to […]
The SRA releases its 2025 AML annual report. What does it mean for your firm?
The Solicitors Regulation Authority (SRA) just published its latest anti-money laundering (AML) annual report, and it offers a comprehensive snapshot of where the sector stands and where it’s heading. It provides data, analysis and clear expectations from the regulator at a time when AML enforcement, technology, and regulatory change are converging. For firms, this […]
FCA secures first-ever prosecution under the Data Protection Act: A warning shot for UK businesses?
In a landmark case marking the Financial Conduct Authority’s (FCA) first-ever prosecution under the Data Protection Act, a former Virgin Media O2 employee has been convicted for unlawfully obtaining and disclosing personal data used to fuel a £1.5 million investment scam. Luke Coleman pleaded guilty to unlawfully obtaining and selling confidential customer data to […]
Leading law firms meet up at AML core group to discuss best practices, hear Jonathan Grimes and more
This past Thursday, October 23, Vinciworks held another in its successful series of AML core group meetings hosted and facilitated by the VinciWorks and Compliance Office team. These meetings have served to create a tight and powerful community of AML professionals in the world’s leading law firms. They have also become an opportunity for these […]
AML Core Group meeting: What the End of SRA AML supervision could mean for law firms
At this quarter’s VinciWorks AML Core Group meeting, our bringing together of UK legal professionals and compliance experts to discuss the latest developments in financial crime regulation, one topic led the conversation. AML Core Group meetings are by invitation only. Reach out here if you are interested in participating. The government has just […]
Tranche 2 and the legal sector: Ready or not, AML is coming
It’s no exaggeration to say that Australia’s Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024, the Tranche 2 reforms, marks the most sweeping reform to the legal services regulatory landscape in nearly a decade. When the new regime takes effect in July 2026, lawyers will officially join the ranks of entities regulated under Australia’s AML-CTF […]
A £17K wake-up call: What one Northwich law firm’s AML failure teaches the rest of us
Sometimes the most telling compliance stories are not about scandal but about silence. That was the case in Northwich, where a small solicitors’ firm, Chambers Fletcher, has been fined nearly £17K by the SRA. There was no client complaint, no criminal activity, no missing funds. Just ten years of doing nothing. And that’s […]
AUSTRAC releases Tranche 2 guidance
AUSTRAC has just released its long-awaited guidance on Tranche 2 of Australia’s AML/CTF reforms marking a major shift that will bring thousands of professionals into the anti-money-laundering and counter-terrorism-financing (AML/CTF) regime for the first time. The guidance explains who will be regulated, when obligations start and what businesses need to do now. March […]
Australia’s AML reckoning: What the ANZ $240m penalty signals ahead of Tranche 2
Australia’s largest-ever corporate misconduct penalty has just landed and it’s a warning shot for every organisation about what’s coming under Tranche 2 of the country’s anti-money laundering and counter-terrorism financing (AML/CTF) regime. Last week, the Australian Securities and Investments Commission (ASIC) announced a record A$240 million penalty against Australia and New Zealand Banking Group […]
Europe’s sustainability playbook is changing
After months of uncertainty, late-night negotiations in Brussels have reshaped the future of Europe’s sustainability framework. The European Parliament has now reached political agreement on the Omnibus package, setting the stage for a major recalibration of the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD). The deal, struck on […]