Jun 29, 2022
Keeping money launderers out of legal services has long been a
priority of the SRA. In 2021, the SRA visited an average of 7 law
firms a month to check on their money laundering systems. The
majority were told to make changes to the way they work. Further,
in its latest threat assessment, the National Crime Agency (NCA)
estimated that at least 70,000 people are engaged in serious
organised crime in the UK, with upwards of £12bn in criminal cash
generated annually.
In this episode, Compliance Office Founder and Director Andy
Donovan, and VinciWorks Head of Legal and Product Research Ruth
Mittelmann Cohen discuss the SRA’s findings and how firms can
maintain AML compliance.