Legal sector specific anti-money laundering (AML) guidance & advice
(Subject to final ministerial approval) we have decided to adopt the Law Society of England & Wales (LSEW) AML Practice Note.
The document will be augmented with additional material which is felt to be necessary for Scottish practitioners. (N.B. The LSEW Practice Note has already been successfully adopted by the Law Society of Northern Ireland).
Further information will follow shortly – but in the interim the LSEW Practice Note serves as an extremely useful (legal sector-specific) guide, covering:
- Adopting a risk-based approach to AML controls
- Adopting adequate and effective AML Systems, policies and procedures
- Adequate and effective Customer due diligence procedures
- Information on primary money laundering offences
- Information on AML issues and Legal professional privilege
- Terrorism offences
- Making a disclosure under the SAR regime
- Enforcement Measures
- Civil liability
- Money laundering warning signs
- Money laundering offences and reporting practical examples
- Definitions and glossary
Furthermore, a wealth of useful practical hints and tips on AML matters can be are available from the Law Society of England and Wales.
Our AML contacts
- For confidential telephone-based guidance on operational AML/financial crime-related queries occurring in the course of your day-to-day business as a solicitor, please call the Society’s Professional Practice team on Tel: 0131 226 8896
- For in-depth guidance regarding strategic AML/financial crime issues (for example FATF/HMT/NCA-related queries, AML trends, sanctions-related advice) or guidance relating to AML policies, procedures, systems or training, please call Graham MacKenzie, AML Auditor on Tel: 0131 476 8176