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AML for Private Client Lawyers

Course Description

Overview

  • 1.5 hours
  • Foundation
Understanding anti-money laundering is critical. Law firms are frequently targeted by money launderers through the exploitation of legitimate services. It is a criminal offence to be involved in this process.

This course is an important and practical tool to help you identify risks, avoid being exploited as a facilitator of money laundering and avoid committing a money laundering offence or another connected offence.

It is tailored to the needs of private client practitioners, and you’ll cover everything you need to fulfil your anti-money laundering obligations: from understanding the money laundering offences and identifying red flags, to conducting a risk assessment and client due diligence.

Written by Amy Bell, a renowned expert in the field and former Chair of the Law Society’s Money Laundering Task Force, it is underpinned by the Legal Sector Affinity Group Anti-Money Laundering Guidance for the Legal Sector. It is based on examples of good practice from the guidance and is relevant for all private client lawyers.

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Learning outcomes

After completing this course you will:

  • Understand how money laundering affects the legal profession.
  • Understand the principal money laundering offences and the connected offences.
  • Understand the level of suspicion required to commit a money laundering offence.
  • Be aware of the common red flags for suspicious activity.
  • Be aware of the requirements for client due diligence.
  • Be able to identify risk factors when considering instructions.

What this will cover

This course consists of two modules.

1. The Money Laundering Offences and Warning Signs of Suspicious Activity
2. Risk Assessment and Client Due Diligence

Module 1: The Money Laundering Offences and Warning Signs of Suspicious Activity (30 min)

E-learning

This module looks at how your firm may be targeted by money launderers and provides a detailed guide to the principal money laundering offences and connected offences under POCA 2002, including the threshold for suspicion.

It also covers the most common red flags and the steps you can take to identify suspicious instructions. It provides an overview of reports to your MLRO and disclosures to the NCA.

Module 2: Risk Assessment and Client Due Diligence (40 min)

E-learning

This module provides a comprehensive guide to risk assessment and client due diligence under the MLR 2017, including risk indicators, the documents that are useful for identifying and verifying all types of clients, and what to look for in source of funds documents.

Assessment (complete e-learning to unlock)

Exam

The assessment consists of 20 questions. In order to pass the assessment you must achieve a mark of 70%. The assessment can only be taken a maximum of three times before the course must be taken again.