All law firms operating within the scope of the 2017 Money Laundering Regulations must meet enhanced AML requirements.
Following on from the AML registration process completed by firms earlier this year, we have launched a new online service which allows members to notify us of any beneficial owner, officer or manager joining or leaving a firm, as well as those who take up a new post which requires AML registration within their organisation.
In line with the original registration process, an up-to-date Basic Disclosure Scotland Certificate must also be uploaded. Individuals moving to a new firm as a beneficial owner, officer, manager can take their existing, up to date (within six months) disclosure with them.
If a beneficial owner, officer or manager has left the business, the firm’s money laundering reporting officer (MLRO) must also notify us via the online form of this departure. The firm should also use this portal inform us if their MLRO or ‘Board Level Person’ changes.
Further information regarding this process and information about the terms can be found in the AML frequently asked questions section of our website