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Anti-Money Laundering Compliance and the Legal Profession

Anti-Money Laundering Compliance and the Legal Profession

Author: Sarah Kebbell
Publisher: Routledge
ISBN: 9780367030049

Published In: November 2021
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only
Paperback Edition ISBN: 9781032148717

List Price: HKD 2,015.00

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Description
Contents

Details

Money laundering is a global issue and there is evidence that the services provided by the legal profession may be misused to launder the proceeds of crime. This book explores the experiences of professionals within Top 50 law firms when seeking to comply with the UK's anti-money laundering (AML) regime.

The book draws upon empirical evidence from 40 in-depth interviews with solicitors and compliance personnel from 20 Top 50 law firms. Access to this section of the legal profession is challenging in the context of academic research, and the research provides an account, seldom heard in academic literature, directly from practitioners. The book uses these research findings to explore and discuss the AML compliance issues faced by this section of the profession. It highlights the challenges presented by the legislative architecture of the Proceeds of Crime Act 2002, and considers compliance issues relating to customer due diligence, AML training, the client account and the suspicious activity reporting regime. It also considers participants' perceptions of the regime, their role within it, and their own assessment of money laundering risk. It concludes by using this evidence to recommend amendments to current AML policy and legislation.

This book will be of interest to students and researchers studying Financial Crime Law, Business and Company Law, and White Collar Crime, as well as policy makers in the areas of money laundering, compliance, and corruption.

- Anti-Money Laundering and the UK Legal Profession

- The UK AML Regime

- Methodology

- The UK AML Legislative Framework

- The Mechanical Aspects of the UK AML Regime

- The Suspicious Activity Reporting Regime

- Participants` Perceptions of the UK AML Regime

- Conclusion