The Solicitors Regulation Authority (SRA) has warned that too many firms are falling short on anti-money laundering (AML).

The SRA conducted a review focused on 59 law firms providing trust and company services and resulted in 26 firms entering disciplinary processes.

The creation and administration of trusts and companies on behalf of clients has been highlighted by the government as one of the legal service areas at most risk of exploitation by criminals to launder money.

No evidence of actual money laundering or intent of criminal activity was found. However, the review did find breaches of the 2017 Money L...