Learn what law firms must do to keep proceeds of crime out of legal services.

With a focus on practical examples from everyday law firm life, this session provides support to ensure you are taking the right steps to keep your firm and the public safe.

You will also learn about the types of problems – and best practices – that the SRA identified during its recent round of visits to law firms to review anti-money laundering practices.

Survey 1 – Your client is purchasing a residential property. He states that he is obtaining the funds for the purchase from savings on his salary. What steps, if any, would you take regarding the source of the funds?

A. Accept the customer's explanation of where the funds come from 0.8%
B. Request bank statements to prove available funds 10.2%
C. Obtaining bank statements and other information necessary to assess the client’s assets 87.3%
D. None of the above 1.7%

Survey 2 – Your client is buying a residential property. They state that the money is from savings they have built up from their salary. On the bank statements, you see a large payment from a third party. You ask the client about it and they state that it is a gift from their parents. What further checks, if any, do you perform?

A. Talk to the parents and accept their explanation of the origin of the funds 1.4%
B. Accept the parents' declaration and obtain identification and confirmation 6.2%
C. Talk to parents, obtain ID and verification as well as bank statements confirming the origin of the funds 82%
D. Talk to the parents and get bank statements confirming the funds 10%
E. None of the above 0.5%

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