Starting Price: £35.00Price excludes VAT
Money Laundering: The Risks and Warnings for Solicitors
The SRA Risk Outlook 2018 highlights the risks and dangers to law firms of allowing client accounts to be used for money laundering purposes. The SRA has outlined a number of core issues of which solicitors need to be aware in order to ensure they remain compliant with money laundering regulations.
This course will highlight the on-going requirements for lawyers and their firms to be up to date with developments relating to and concerning how best to ensure effective anti-money laundering compliance.
The course trainer, Michael Cotter, is an expert Financial Services Lawyer who will provide insight and expertise.
This course is applicable to all solicitors. Each individual is responsibility for complying with the requirements of the SRA Handbook and the managers of each firm are responsible for the overall compliance of their individual firms.
Compliance Officers for Legal Practice (COLPs) and for Finance and Administration (COFAs) will find these courses of particular interest as their role is to champion compliance and good risk management within their firms. These courses may be integrated within existing processes to ensure that individuals are given sufficient information to comply with the SRA Handbook.
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- What the SRA expects of solicitors and those working within the profession;
- Why money laundering poses a real risk to the profession and the wider public at launch;
- How to identify risk; and
- Learning from example as to how best to avoid the risks;
- How to apply best practice to ensure regulatory compliance
This will be delivered via our highly interactive Live Online system and is a one hour session accessible from any location. Live Online sessions are delivered real time with an experienced trainer presenting throughout the session enabling delegates to ask questions and engage with the learning content. No prior technical expertise is required to sign up to these sessions.
A2 Maintain the level of competence and legal knowledge needed to practise effectively, taking into account changes in their role and/or practice context and developments in the law;
A4 Draw on a sufficient detailed knowledge and understanding of their field(s) of work and role in order to practise effectively;
A5 Apply understanding, critical thinking and analysis to solve problems;
B1 Obtain relevant facts;
B2 Undertake legal research;
B3 Develop and advise on relevant options, strategies and solutions;
C2 Establish and maintain effective and professional relations with clients;
C3 Establish and maintain effective and professional relations with other people;
D3 Apply good business practice.
There is no preparation for this course although we do ask that you come prepared to engage with the subject and be willing to get involved with the discussions this programme raises.
Following each session we suggest you complete a personal development plan which will help you identify key action points together with a framework for ensuring that you achieve them.
- Better understand the risks posed by those wishing to target law firms for money laundering purposes
- The need for solicitors to understand the importance of Suspicious Activity Reports (SARs)
- The specific risks posed to firms who conduct Conveyancing
- How to carry out valid identification and anti-money laundering checks
- The importance of keeping the firm ‘client-account’ secure and to ensure it is not used for money laundering purposes