Money Laundering

Stricter new anti-money laundering (AML) regulations have come into force across the UK with effect from today. The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 update the UK's AML regime to incorporate international standards set by the Financial Action Task Force (FATF) an

The Solicitors Regulation Authority has found that a fifth of law firms in England and Wales are not compliant with the 2017 Money Laundering Regulations. In March, the SRA wrote to 400 firms asking them to demonstrate compliance with the regulations.

The average prison time for money laundering offences rose to a record high of 27 months last year after the introduction of new sentencing guidelines, the Financial Times reports. Research undertaken by Thomson Reuters showed that the average length of jail sentences for offenders convicted of mone

The Law Society of Scotland has unveiled changes to the Practice Rules which will provide Scottish solicitors with greater clarity on what is required of them in terms of interaction with the Society and anti-money laundering compliance. The new rules will take effect from 3 May 2019, coinciding wit

A brand new regulatory anti-money laundering (AML) sub-committee is being set up to ensure that the Law Society of Scotland can meet its increasing statutory obligations as a responsible and effective AML regulator. The new sub-committee is one of seven committees and accreditation panels across the