21 April 2020
COVID-19 – Anti-Money Laundering (AML)/Counter-Terrorist Financing
UK Legal Sector Affinity Group – Advisory Note Published - 21st April 2020
As previously advised the Society has been collaborating
with members of the Legal Sector Affinity Group (LSAG) (which comprises UK
legal sector supervisory authorities and professional bodies, including the
Society) to prepare further information and assistance for practitioners in
relation to preventing Money Laundering/Terrorist Financing
The LSAG has now jointly published an Advisory Note,
highlighting key AML/CTF risks and challenges for the legal sector associated
with the COVID -19 crisis. It also includes information to assist practitioners
with their ongoing obligations under the Money Laundering Regulations 2017
(Amended).
This includes information on undertaking client due diligence,
where meeting in person may not be possible.
The Advisory Note is available by clicking here