The intensifying regulatory environment in the UK and abroad means that businesses are required to play an increasingly active role in the prevention and detection of money laundering and terrorist financing. Non-compliance can lead to criminal and regulatory investigation, as well as sanctions. Moreover, directors, officers and employees of those businesses may also be in the sights of regulators and prosecutors.
There is potential for any business to fall foul of money laundering legislation. Our team of specialists provide advice on Money Laundering Regulations to all regulated sectors including financial institutions, betting and gaming, legal and accounting professional services and HMRC supervised businesses.
Our regulatory lawyers advise on the systems and controls that businesses need to adopt to comply with their anti-money laundering obligations. These include maintenance of an appropriate risk assessment, effective governance arrangements, customer due diligence, source of wealth and source of funds checks, ongoing monitoring, and suspicious activity reporting as well as advising on related risks such as sanctions avoidance, bribery and corruption.
We are also experienced in representing individuals and firms placed under investigation by regulators including the FCA, the Gambling Commission, and professional body supervisors. Our well-regarded team consists of regulatory, criminal and compliance experts including former FCA and professional body regulators as well as CPS prosecutors. We are at the forefront of developments in this fast evolving area including sitting on the committee of the Law Society's Money Laundering Task Force.