Jonathan Fisher, QC takes you through the new 2017 Money Laundering Regulations
The new 2017 Money Laundering Regulations means fundamental changes to the anti-money laundering procedures at law firms, including changes to customer due diligence (CDD), a central register for beneficial owners, changes in the rules for PEPs and a focus on risk assessments. Jonathan Fisher, QC takes you through the key changes.
Key changes relevant to solicitors and their clients include the following:
- demonstrating and documenting that risk assessments are conducted and kept up-to date
- taking into account risk factors including those relating to their customers, countries or geographic areas, products, services, transactions or delivery channels;
- written money laundering policies and procedures that take the firm’s risk assessment into consideration;
- internal audit teams, where necessary, to test the internal policies, controls and procedures; and
- Money laundering training on how to conduct a risk-based CDD and ongoing monitoring.
Failure to report suspicious activity, inadequate customer due diligence or unwitting involvement in money laundering can expose firms and MLROs to prosecution or disciplinary action so it’s important all staff are informed of these key changes.
Who should attend?
MLROs, COLPS, COFAs, Risk Mangers, Practice Managers, Managing Partners
Jonathan Fisher QC is ranked as a leading barrister in Band 1 for Financial Crime and Proceeds of Crime cases by the internationally recognised law directory, Chambers & Partners UK. He is also ranked in the legal directories as a leading barrister for financial services, fraud and tax cases.
With extensive experience in civil, criminal and regulatory cases, Jonathan has particular expertise in the areas of bribery and corruption, economic sanctions, financial services, fraud, money laundering and proceeds of crime, and tax disputes. Much of Jonathan’s work involves cross-border transactions, offshore companies and trusts.
For more information and details on how to book:
Recorded on 11 July 2017