- Explain the purpose of AML rules and the obligations of law firms operating in England & Wales.
- Identify key money laundering risks and red flags in legal practice.
- Carry out proportionate customer due diligence and understand Source of Funds and Source of Wealth.
- Recognise suspicion and follow the correct internal reporting process.
- Understand sanctions compliance and why strict liability applies.
- Describe the responsibilities of the COLP, MLCO, and MLRO.
- Apply a risk based approach to client and matter assessment.
This course provides a practical introduction to Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) obligations within the UK legal. It explains the legal and regulatory framework that governs law firms and the expectations set by the Solicitors Regulation Authority. Learners will explore core AML concepts such as the risk-based approach, customer due diligence, identifying red flags, sanctions awareness and how to report suspicious activity. The course clarifies individual responsibilities within legal practice, as well as the roles of the MLRO, MLCO and COLP. Through realistic legal profession scenarios, the course highlights common money laundering and terrorist financing risks across key areas of practice. By the end of the course, learners will understand how law firms can be misused for financial crime and how to identify, manage, and escalate risk appropriately.
AML and CFT Overview
The UK legal regulatory system
The risk based approach
Common types of money laundering and terrorist financing
Reporting requirements and best practice
45 minutes + 15 minutes for the final test
Languages: English |
Region: UK|
Type: Standard
£95