Spotting the Red Flags - Money Laundering Update for Private Client Practitioners

Introduction

Anti-money laundering and related legislation imposes onerous obligations on practitioners and firms to respond appropriately when providing legal services. Lawyers and law firms involved in private client and tax planning work must devote considerable time and energy to protect themselves and ensure compliance with the Money Laundering Regulations.

With money laundering and tax evasion laws burgeoning, and greater scrutiny of tax avoidance schemes by HMRC, lawyers are facing an increased risk of regulatory intervention, prosecution, and reputational damage. There are statutory requirements and defences which need to be understood to avoid financial penalties and possible criminal conviction.

There are many regulatory challenges which must be identified and met in this area, and it is important to understand the role of the SRA in supervising your conduct. Additionally, risks must be managed, and private client practitioners must be alert to the fact that they might be targeted by criminals.

This new virtual classroom seminar will cover the essentials of anti-money laundering for private client practitioners. Current legislation and regulation will be explored together with discussions about key compliance requirements.

The discussion will also focus on the challenges faced.

What You Will Learn

The live and interactive session will cover the following:

• The key legislative and regulatory requirements relevant to the topic
• The issues with red flags and your suspicions
• Red flags and warning signs which are particularly relevant to private client work
• The Money Laundering Regulations and how to respond in the workplace
• Customer and enhanced due diligence
• Sanctions
• Risk and compliance documentation which will demonstrate the correct response

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.