Course description
Overview
Money Laundering and Bribery are two key areas for solicitors, requiring compliance with legislative and professional guidelines. Compliance with money laundering obligations has been described by the Law Society as ‘one of the greatest challenges for solicitors in the UK today’. The Secretary of State for Justice has stated that tackling the scourge of bribery should be ‘a priority for anyone who cares about the future of business’.
Solicitors providing legal services in relation to financial or property transactions perform a key role, acting as gatekeepers to the financial sector. These services can be exploited by criminals who seek to launder the proceeds of their unlawful activity. Solicitors need to be able to recognise high risk business activities and be aware of the anti-money laundering regime, as failure to comply with obligations can result in serious consequences for a firm or an individual.
Legal firms also need to ensure that bribery prevention policies and procedures are embedded and understood throughout the organisation.
This course provides solicitors with a clear understanding of money laundering and bribery, promoting an effective risk-based approach which allows them to exercise reasonable business and professional judgement with respect to clients, ensuring compliance with legal obligations.
Who is this for?
This course is aimed at solicitors providing legal services involving financial or property transactions, in particular conveyancing, probate, asset or bank account management, and the formation or management of trusts and companies. It is also relevant to legal trainees, legal executives and paralegals.
What will you learn?
- Demonstrate an understanding of the nature of money laundering and bribery
- Identify areas of business where there are higher risks
- Evaluate high risk clients
- Recognise the legal obligations placed upon staff
- Articulate the principal objectives and elements of effective anti-money laundering and anti-bribery policies
- Review, develop and implement systems and controls within a firm
PSC Elective
This course may be taken as a PSC elective, although it may also be attended by non-trainees.
SRA Competencies
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Upcoming start dates
Suitability - Who should attend?
This course is aimed at solicitors providing legal services involving financial or property transactions, in particular conveyancing, probate, asset or bank account management, and the formation or management of trusts and companies.
Outcome / Qualification etc.
By the end of this course you will be able to:
- Demonstrate an understanding of the nature of money laundering and bribery
- Identify areas of business where there are higher risks
- Evaluate high risk clients
- Recognise the legal obligations placed upon staff
- Articulate the principal objectives and elements of effective anti-money laundering and anti-bribery policies
- Review, develop and implement systems and controls within a firm