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SRA and FATF AML Audit Campaigns
• 2015/2016 - SRA and FATF will be auditing the legal profession on compliant AML system.
• FATF’s audit will include Licenced Conveyancers.
• Focus will be on compliant systems and training.
• Robust approach to non compliance with heavy sanctions.
Are your AML systems Compliant?
NCA – SARs Annual Report Statistics 2013
Sector % SAR’s SAR’s Submitted
Banks 79.4% 251,336
Legal 1.24% 3,395
Estate Agents 0.07% 215
Accountants 1.71% 5,428
Financial Services 4.22% 13,359
MSBs 6.74% 21,343
Building Societies 3.43% 10,844
Consent requests refused = 9.8%Average turnaround time for giving consent = 3.5 days
Where Do Your Risks Lie?
The Work You Do and Your Clients
Where Do Your Risks Lie?
Your People
Training Your Staff
• How to recognise suspicious circumstances and associated risks
• Reporting obligations• Handling clients after reporting• Tipping off implications• Who is the MLRO?• Your systems and procedures• Defences to ML offences
What do your staff need to know?
On-line training: www.mlsolutions4u.co.uk
Bill Jones - T: 0161 828 1937 or E:
CLC AML Guidance – www.conveyancer.org
LinkedIn – Solicitors AML Group
Helpful information
Useful Information
