SRA v Susan Anita Barrington-Binns

Summary:

Susan Anita Barrington-Binns [The respondent] failed to be alert to suspicious features of a transaction in which she facilitated the payment of £1,269,725 through her client account to an offshore bank account in Belize and failed to have sufficient regard to her duties under the MLRs.

The respondent failed to:

• take adequate steps to establish the source of the funds,
• properly take into account several money laundering warning signs,
• monitor the ongoing business relationship and
• undertake enhanced due diligence despite the higher risk of money laundering.

Sanction:

The Respondent was suspended from practice for 12 months and ordered to pay costs of £6,000.

At the end of her suspension the respondent may not be a sole practitioner, manager or owner of an authorised or recognised by, be a Compliance Officer for legal practice, by a compliance officer for finance and administration or a money laundering reporting officer and may not be a sole signatory on any client account or have power to solely authorise electronic transfers from client accounts.

Decision number: 11523-2016

Decision date: 7 March 2017

Read more on the SDT website: http://bit.ly/2qOvNIX