Solicitor fails to review money laundering risk after police warning The following case illustrates the importance of solicitors carrying out their own due diligence on clients, and the very serious consequences of failing to do this. Mrs A was a senior partner and the money laundering reporting officer (MLRO) of a medium-sized law firm. On […]

Solicitor fails to respond to money laundering warning signs The following case illustrates the importance of being aware of the money laundering warning signs and acting on them when dealing with clients. Mr A was a fee-earner in a small law firm. Mrs Z engaged his services in buying a portfolio of buy-to-let properties. The […]

Compliance officer detects inappropriate use of client money The following case illustrates the importance of having a consistent approach to compliance with the Money Laundering Regulations throughout the entire firm. Mr A was a partner in a medium-sized law firm. A year ago, he started acting for XYZ Ltd (‘XYZ’). XYZ specialised in purchasing high […]