Episode 19: Legal Sector: Challenges and Opportunities

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The UKFIU Podcast

UK Financial Intelligence Unit

25 episodes

4 days ago

The UK Financial Intelligence Unit (UKFIU), housed within the National Crime Agency, has national responsibility for receiving, analysing and disseminating financial intelligence submitted through the Suspicious Activity Reports (SARs) regime. SARs alert law enforcement to potential instances of money laundering and terrorist financing and are a vital source of intelligence, not only on economic crime but on a wider range of criminal activity. These educational podcasts are part of the UKFIU’s new digital presence delivering a smarter approach to fighting crime, in line with UKFIU priorities of reducing harm, protecting the integrity of the UK economy and ensuring that there are no safe spaces for economic crime or terrorism financing.

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Episode 19: Legal Sector: Challenges and Opportunities

The UKFIU Podcast

34 minutes 19 seconds

1 year ago

Episode 19: Legal Sector: Challenges and Opportunities

In this episode our panel of legal experts discuss key considerations and challenges facing legal professionals when it comes to anti-money laundering (AML) and suspicious activity reporting. The legal sector covers everything from large global firms down to sole practitioners and our panellists discuss key money laundering threats, risk areas and the indicators which firms and sole practitioners should be looking for.

For the subtitled version of this episode go to: https://youtu.be/FztrHRW0-7U

SRA – Solicitor’s Regulation Authority

MLRO- Money Laundering Reporting Officer

AML – Anti-money laundering

WTW – Willis Towers Watson

FCA – Financial Conduct Authority

CDD – Customer Due Diligence

OFSI – Office of Financial Sanctions Implementation

Further information can be found here:

https://sra.org.uk/aml

https://sra.org/sanctions

https://www.lawscot.org.uk/members/regulation-and-compliance/financial-compliance/anti-money-laundering/

https://www.lawscot.org.uk/news-and-events/law-society-news/aml-thematic-review-of-suspicious-activity-reports/

https://lawsociety.org.uk/topics/anti-money-laundering/

https://wtwco.com/en-gb