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 […]
Varengold Bank’s AML failures: A cautionary tale for Europe’s financial sector
Germany’s financial regulator BaFin announced a €3.3 million fine and an additional €500K coercive penalty against Varengold Bank AG, sending a clear message that weaknesses in anti-money laundering (AML) controls are no longer tolerable, most especially when they stem from systemic governance failures. Varengold’s case has rapidly become one of the most consequential AML […]
PCAs in the firing line: What law firms need to know about the Treasury’s AML reforms
The UK government is once again tightening the screws on anti-money laundering (AML) compliance. In its latest draft Money Laundering and Terrorist Financing Regulations 2025, HM Treasury has zeroed in on pooled client accounts (PCAs), a cornerstone of how many law firms operate. At the Law Society’s recent economic crime conference, delegates heard stark […]