Our chat with Mike Day made us realize that we have a lot more to say about anti-money laundering and its impact on the work of conveyancers.
It also seems like a good idea to chat about AML given the recent release of the Legal Sector Affinity Group guidance on AML.
So, in this Conveyancing Matters chat, Stu and I talk about the guidance in brief and remind conveyancers what AML is about. We then go on to talk about a host of practical points which we hope conveyancing firms will find helpful, including client i/d, client profiling, red flags and the importance of an open-door culture in law firms.
AML compliance is not just a tick box exercise and as Stu reminds us that firms must assume that they will be a target for AML fraudsters.
What do you think are the biggest AML challenges?
Remember, this is just a chat and our opinions, not advice!
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