SRA checks up on AML procedures at 85 firms

News Team, 15/10/2021

The Solicitors Regulation Authority (SRA) has visited 85 law firms in the past year to offer guidance on anti-money laundering regulations and tax advice.

In a total 273 reports of potential AML breaches made to the SRA. 29 enforcement actions resulted in total fines of £160,000 being issued. The SRA also made 39 suspicious activity reports (SARs) to the National Crime Agency (NCA).

These findings were revealed in the SRA’s first professional supervisor report, ...

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