LGCA | Build Skills with Online Courses and Certificates by Industry Experts

Anti-Money Laundering for Law Firms

Reduce risk and safeguard your business. Created in partnership with industry experts, our training is designed to develop the right behaviours and deliver better outcomes for consumers.
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£60.00

Reduce risk and safeguard your business. Created in partnership with industry experts, our training is designed to develop the right behaviours and deliver better outcomes for consumers. This comprehensive Anti-Money Laundering (AML) course is specifically tailored for law firms, addressing the unique challenges and obligations they face in the realm of financial regulations. Participants will engage in an interactive learning experience, equipping them with the necessary knowledge and skills to navigate AML complexities within a legal context. Our legal GRC library specialist courses help law firms meet the standards and requirements set out by the Solicitors Regulation Authority (SRA) and LEXCEL. All courses are written with the assistance of Subject Matter Experts from the legal industry.

Learning Objectives:

  • Understand AML Obligations for Law Firms.
  • Define money laundering and related criminal offenses.
  • Implement measures to protect oneself and the firm from AML risks.
  • Recognize and prevent potential instances of money laundering.
  • Comprehend the significance of staying vigilant in the legal profession.
  • Learn the key components of effective CDD.
  • Apply practical scenario-based questions to enhance CDD skills.
  • Gain insights into the reporting process for money laundering suspicions.
  • Understand the legal obligations related to reporting suspicious activities.
  • Identify and manage risks associated with Politically Exposed Persons (PEPs).
  • Understand the concept of sanctions and apply best practices in compliance.
  • Learn when and how to create and submit SARs.
  • Understand best practices in drafting and escalating SARs.
  • Grasp the significance of meeting AML responsibilities for MLROs and MLCOs.
  • Acquire best practices and guidance for AML compliance across the firm.

Course Structure:

  • Introduction to AML Obligations for Law Firms
  • Customer Due Diligence (CDD) Mastery
  • Reporting and Legal Obligations
  • Defining money laundering and related criminal offenses.
  • Implementing protective measures for support staff.
  • PEPs and Sanctions Compliance
  • Dealing with Suspicious Activity Reports (SARs)
  • Roles of MLRO and MLCO
  • Best practices and guidance for AML compliance across the firm.

This course offers a holistic approach to AML compliance in the legal sector, providing participants with practical insights and skills to safeguard against money laundering risks.

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