AML Policy Documents, PWRA & PFRA Review

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.

Our Charges

£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.

  • Independent AML Audit
  • AML Training
  • AML Updating Retainer
  • SRA Audit or Inspection on AML - we help firms with this. Charged at £200/r. It is best to contact us as soon as you receive notification from the SRA. They will ask you to answer some preliminary questions and submit your policies for review. How you answer them can help or hinder how the audit or inspection goes.

(Sanctions Regime compliance - see separate services for this on our website.)

Contact Us

Feel free to contact us, ideally by using the 'How can we help you?' form below.

"We at Spires Legal wholeheartedly recommend Ingemar and his team at Hunnings Consultancy Ltd. Ingemar has supported us throughout our journey from new start up to established firm. It is refreshing to have a consultant that takes the time to understand your business and its priorities, stands by your side as it develops and is flexible in approach as your needs change.
The feedback we have from our team, and which we regularly hear from others is that Ingemar is an insightful and knowledgeable trainer who is comprehensive yet engaging in his approach. Still unsure? Five minutes on the phone with Ingemar and you will be sold on how much value he can add to your business!"

Arj Arul - Director at Spires Legal

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Business Support for Law Firms

We will get back to you within 24 hours. For more information and to discuss how our service can work for you;
Call: 07887 524 507 
Fill out our contact form
Send us an email:
[email protected] 
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Quality services, in a timely & efficient manner for a reasonable fee. Assisting clients since 2014 as their Trusted Advisers on matters relating to the running of their Business.