Anti-money laundering
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UK economic crime regime
This guide sets out how UK economic crime legislation impacts solicitors and firms.
Resources
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Anti-money laundering guidance for the legal sector
Learn how to comply with your anti-money obligations.
Economic Crime and Corporate Transparency Act
Find out what this legislation means for you and your firm.
Professional enablers
Understand how to interpret the government's definition and what steps you can take.
All resources
Guide (22)
- Anti-money laundering (AML) compliance for small firms 04 Dec 2023
- Anti-money laundering guidance for the legal sector 28 Mar 2023
- Anti-money laundering guidance for the legal sector: addendum 01 Dec 2023
- Chinese underground banking and funds from China: LSAG advisory notice 08 Mar 2023
- Consequences of not preventing economic crime: firm case studies 22 Apr 2024
- Consequences of not preventing economic crime: solicitor case studies 11 Apr 2024
- Customer due diligence 25 Jun 2024
- Internal money laundering reporting 12 Jan 2020
- Legal professional privilege: disclosing suspicions to your MLRO 07 Mar 2022
- Politically exposed persons 19 Dec 2019
- Professional enablers 15 May 2024
- Quick guide to the Money Laundering Regulations 2017 17 Jan 2020
- Register of overseas entities: what solicitors should know about verification 29 Jul 2022
- Risk assessments: anti-money laundering 19 Oct 2023
- Source of funds 07 Mar 2022
- Suspicious activity reports 23 Aug 2024
- Tipping off and prejudicing an investigation 27 Feb 2023
- Trust Registration Service (TRS) and AML compliance 04 Apr 2022
- UK economic crime regime 30 Apr 2024
- UK sanctions regime 21 May 2024
- Warning signs of money laundering 20 Jan 2020
- Who is regulated under the Money Laundering Regulations 2017? 17 Jun 2024
Practice note (4)
- Bribery Act 2010 22 Sep 2022
- Compliance officers 28 Jul 2023
- House competitions 13 Jan 2020
- Responding to a financial crime investigation 24 Jan 2022
Q&A (31)
- Can I accept my client’s £20,000 cash deposit? 28 Apr 2021
- Can I ask a client about a register discrepancy without tipping off? 08 Apr 2024
- Can I charge for due diligence checks? 25 Nov 2021
- Can I withdraw a suspicious activity report I made yesterday to the National Crime Agency? 30 Sep 2021
- Can my client use bitcoin to purchase property? 22 Sep 2023
- Do I have to identify and verify all the beneficial owners of a trust? 31 May 2024
- Do I need to make a suspicious activity report if I end a retainer? 19 Jul 2021
- Do we need to appoint an MLCO if we have an MLRO? 22 Sep 2023
- Does my firm have to pay the economic crime levy? 07 May 2024
- Does the Terrorism Act 2000 override legal professional privilege? 05 Dec 2022
- How do I verify the identity of a client without standard documentation? 01 Dec 2022
- I act for a seller. What should I do if a buyer transfers purchase funds to my client account? 30 Nov 2022
- I act for an executor who found £20,000 in the home of the deceased. What should I do? 05 Dec 2022
- Is a deed of variation of benefits a money laundering or tax evasion risk? 22 Sep 2023
- Is an MLRO automatically a BOOM? 18 Mar 2024
- Is outlining our reporting obligations in client care letters ‘tipping off’? 26 Feb 2021
- Is there a de minimis amount for sanctions? 17 Jun 2024
- I’m a sole practitioner. Do I need to appoint a money laundering officer? 22 Sep 2023
- I’m setting up a new firm. What should we include in our client care letters? 22 Sep 2023
- My client is a member of a UK political party. Do they count as a politically exposed person? 22 Sep 2023
- My client is a possible sanctions match. What should I do? 06 May 2020
- Should I report a minor AML breach to the SRA? 25 Apr 2024
- Should we quote our account number on bills? 01 Jul 2020
- What do we need to include in our policy on handling cash? 22 Sep 2023
- What information can a bank request about our client account? 06 Mar 2024
- What is Chinese underground banking? 25 Mar 2024
- What should I do if a client pre-signs mortgage documents? 05 Dec 2022
- When can our practice accept client funds? 08 Dec 2021
- When should I carry out a sanctions risk assessment? 21 Sep 2021
- Where can I get help with the NCA SAR portal? 20 May 2024
- Where do I report a discrepancy between my due diligence and the PSC register? 31 Mar 2021
Tools (7)
- AML leaflets - for your client and your firm 07 Jan 2020
- Anti-corruption training 21 Mar 2023
- Anti-money laundering and terrorist financing glossary 10 Mar 2021
- Economic crime and regulatory compliance directory 24 Jun 2024
- High-risk third countries for AML purposes 31 Jul 2024
- Money laundering risks and threats 02 Aug 2024
- UKFIU sanitised feedback on suspicious activity reports 23 Sep 2021
What's changing (11)
- Adequate consideration and proceeds of crime 02 Aug 2024
- Digital ID trust framework 14 Mar 2022
- Economic Crime Act: what does it mean for law firms? 27 Jun 2023
- Economic Crime and Corporate Transparency Act 27 Feb 2024
- Economic crime levy 21 Mar 2024
- Economic crime plan 11 Apr 2024
- HM Treasury review of the Money Laundering Regulations 2017 07 Jul 2022
- Home Office suspended funds scheme: share your views 01 Aug 2023
- Law Commission review of the suspicious activity report regime 29 Feb 2024
- Prosecution of ‘failure to disclose’ offences 28 Jul 2021
- SARs reform programme 29 Feb 2024
Learning
- Anti-money laundering
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News and articles
- Regulation
- Consultation response
SRA business plan and budget 2024/25 consultation – Law Society response
We’ve responded to the Solicitors Regulation Authority’s (SRA) consultation on its business plan and budget for 2024/25. Read our full response.
- Anti-money laundering
- Press release
Money Laundering Regulations should not place disproportionate obligations on the legal…
HM Treasury should make sure changes to the Money Laundering Regulations (MLRs) do not place disproportionate and unnecessary obligations on the legal profession.
- Anti-money laundering
- Consultation response
Improving the effectiveness of the Money Laundering Regulations – Law Society response
HM Treasury is consulting on improving the effectiveness of the Money Laundering Regulations (MLRs 2017). Read our full response.
- Anti-money laundering
- Partner content
Why running identity checks does not make you AML compliant
Client identification and verification is an obligatory part of your anti-money laundering (AML) obligations. But your legal responsibilities extend far beyond this.
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