Approximately £10 billion of illegal money is estimated to be laundered each year in the UK. And with most law firms exposed in so many ways to the risks of money laundering, the potential for a firm getting caught up in financial crime is easy, maybe easier than ever. It can happen at any point in the legal process – in the course of managing a client’s money or organising funds to create a client’s company or while helping a client buy property.
What’s worse, the repercussions for violating anti-money laundering (AML) regulations are steep, from large fines to civil or criminal charges to reputational damage. That’s all likely to get steeper with Labour planning on further crackdowns on dirty money.
A robust AML framework is the key. In this free, one-hour webinar, we provide critical information on AML legislation, the many ways law firms can get caught up in money laundering, and the implications if a firm doesn’t have effective AML workflows in place. Significantly, we will guide firms in how to implement best practice AML workflows to manage their money laundering risks so they can develop an effective AML programme and mitigate their risks of being exposed to financial crime.
This webinar featured:
- A basic understanding of the AML regulations in the UK
- Ways to assess your firm’s risks for money laundering
- Relevant money laundering case studies – and what you can learn from these stories
- How to implement AML best practice workflows
- How to develop an AML programme that works
