Anti-Money Laundering obligations and why they matter to family solicitors
We will ask for proof of identification prior to working with you, to check your name, address and date of birth, using photographic identity documents and proof of residential address.
This is in common with all Solicitors, including those specialising in family matters, to comply with Anti-Money Laundering Regulations. Sadly, a recent story has shown how essential this is and also serves to show how seriously we take this issue.
You can read more at this Law Gazette article, dated 27/08/2020
The Solicitor’s Regulatory Authority state: “Money laundering is not a victimless crime - it helps fund terrorism and those involved in drug trafficking and people smuggling”.
We also avoid operating client accounts to reduce risk around this area.
We follow the SRA’s SHARP Campaign, meaning solicitors SHould Assess, Report, Protect.
Assess: we have a money laundering risk assessment which is regularly updated
Report: if a solicitor suspects a client or transaction might be using the proceeds of crime, we will report this to the National Crime Agency by submitting a Suspicious Activity Report (SAR)
Protect: we are aware and understand the seriousness money laundering poses and actively work to keep all family matters we engage in safe.