Anti-money Laundering Compliance for Law Firms
Published: February 2013
Publisher: Ark Group
Country of Publication: UK
Format: Paperback (100 Pages)
With the proposed changes to AML rules and regulations announced earlier this month, Managing Partner's Anti-money Laundering Compliance for Law Firms report could not have come at a better time.
This must-have guide for all MLROs, lawyers and law firm leaders presents the most up-to-date best practice advice to ensure you understand your obligations and remain compliant.
Leading experts, Susannah Cogman, John Taylor, and David McCluskey shed light on the key issues contained within the AML rules, and counter-terrorist financing sanctions regimes and offer practical guidance to ensure you're not caught out.
Topics covered include:
- Solicitor's obligations in relation to money laundering and terrorist financing suspicions;
- The forthcoming changes to the anti-money laundering regime based on the European Commission's proposal for a fourth money laundering directive and the changes most likely to affect your firm;
- Legal client privilege exemptions - Where they might apply and how to navigate this complex area;
- How to identify early warning signs regarding suspicious client activity;
- Procedures for dealing with politically exposed persons (PEPs);
- The impact of the Bribery Act 2010 definition of 'adequate procedures' and how these equate to AML procedures established by law firms;
- On-going monitoring of clients' circumstances; and
- How to develop a culture of ethics and compliance within your firm.
'What not to do' - High profile, current case law examples of convicted lawyers and lessons learned from the financial services sector demonstrate how to avoid the enormous penalties handed out for non-compliance.
Advice is also provided on dealing with the Serious Organised Crime Agency - The powers that can be exercised by investigators to obtain information under compulsion, and how you should respond.
Don't get left behind when it comes to best practice in anti-money laundering compliance.