In January 2024 alone, reports were published about the SRA taking enforcement action against 3 firms and 4 individuals for failure to comply with the Money Laundering Regulations 2017. The fines issued for these non-compliances total over £570,000 plus costs. The absence of staff training, or requirement to complete additional training, was noted in a number of these cases.

Action has not only been taken against solicitors, but also other individuals who are not regulated by the SRA, whose breaches were so serious that the SRA felt compelled to take action.

As all SRA enforcement action, from rebukes to fines, is published by the SRA, the potential financial and reputational impact upon firms may be felt by all staff, regardless of whether they had any direct involvement with the non-compliance.

This course will cover the following to assist support staff in understanding the fundamental aspects of AML.

The basics of what AML is
In scope / not in scope work for AML
POCA / TA
PCPs - CDD & EDD
Clients
Risks – what could raise a risk?
Reporting to the MLRO / MLCO
Tipping off

Target Audience

The online course is suitable for support staff or legal practitioners wanting to understand the basics of AML.

Resources

Comprehensive and up to date course notes will be provided to all delegates which may be useful for ongoing reference or cascade training.

Please note a recording of the course will not be made available.

Speaker

Helen Torresi, Consultant, DG Legal

Helen is a qualified solicitor with a diverse professional background spanning leadership roles in both the legal and tech/corporate sectors. Throughout her career, she has held key positions such as COLP, HOLP, MLCO, MLRO and DPO for law firms and various regulated businesses and services.

Helen’s specialised areas encompass AML, complaint and firm negligence handling, DPA compliance, file review and auditing, law management, and operational effectiveness in law firms, particularly in conveyancing (CQS).