National risk assessment of money laundering and terrorist financing consultation
The UK Government has recently launched a consultation on a refreshed national risk assessment (NRA) of money laundering and terrorist financing.
The Society will respond to the consultation and we are looking for input from our members in advance of submitting our response.
To allow us to represent the views of firms across Scotland, please answer the consultation questions as fully as you can by noon on Wednesday 19 April 2017. Your answers will help us to respond on behalf of the Scottish legal profession, influencing the UK Government’s thinking on the money-laundering risks held by the legal sector.
This response will be set against the possible misconceptions held by those outwith the profession. Our response could also help shape the AML policy and law which pose increasingly high expectations and responsibilities on the UK legal sector - both at supervisory and private firm level.
The UK government is planning to hold roundtables with the legal sector during April and May 2017 with a view to filling any evidence gaps, before presenting conclusions to the sector in June and July 2017. The updated NRA will be published in autumn 2017.