Anti-Money Laundering responsibilities are a real concern. If you get it wrong the police could even be knocking at your door. It is a personal responsibility of the Money Laundering Reporting Officer
Keeping up to date and then ensuring that policies and procedures are updated in good time is difficult and a constant worry. In addition, the SRA is telling us that they will tighten up its inspection regime!
We can help you. We carry out a review of your current policy documents and provide you with advice on what needs to be done in accordance with the current regulations.
The SRA asked all firms it regulates to confirm that their Practice-Wide Risk Assessment (PWRA) is compliant. Further guidance was issued in the first part of 2023. There is a good likelihood that your PWRA is not compliant and/or not been kept up to date. The SRA has fined firms for such failure.
We are frequently helping firms through an SRA audit or indeed and inspection. We have see the letters that the SRA send out notifying firms of AML audits. They state that they will want to see the Proliferation Financing Risk Assessment (PFRA) to ensure it is compliant, up to date & relevant. Do you even have one? These are to guard against the risk that a firm might, even unwittingly, become involved with unwittingly, with facilitating criminal activities. (You can see that these work together with the Sanctions Regime - see below & other services to assist with compliance with the Sanctions Regime.)
This is a project with a one-off charge payable up front.
What we will do
A remote review of your current Anti-Money Laundering policy against the current regulatory requirements with a report on what needs to be done to bring them up to date. A review of your Practice-wide Risk Assessment (a template can be provided). A review of your Proliferation Financing Risk Assessment (a template can be provided). This will be done from documentation supplied by you. We will advise you of what is required.
All work is carried out remotely. Unless by separate arrangement.
£750 + VAT
If you go for a similar review of your Sanctions Policies at the same time we offer a discounted combined price of £995 + VAT)
AML Support from us (HCL)
We provide a lot of AML support to businesses in the Legal Sector. Please see below for a summary and links for further information.
(Sanctions Regime compliance - see separate services for this on our website.)
Feel free to contact us, ideally by using the 'How can we help you?' form below.