Anti-Money Laundering - Legal Sector Affinity Group (LSAG) Guidance - What Law Firms Must, Should or May Do

Introduction

You are aware of all of the recent updates and changes in the AML/CTF world?

You’ve updated your documentation around the new National Risk Assessment (NRA), the new sectoral risk assessment released by the SRA, and the recommendations given on AML by the SRA in their Risk Outlook.

But how are you getting on with all the changes you have to make with the new Legal Sector Affinity Group (LSAG) AML guidance?

Still trying to wade your way through it?

At over 200 pages long it’s quite a read. It is also a complete upgrade to the old guidance. It sets out how you should interpret the money laundering regulations but also sets out the standards the SRA will use to regulate your AML compliance.

You have to consider the things you ‘must, should or may’ do in the guidelines.

This virtual classroom seminar will provide you with an invaluable insight into the recent updates and changes in the guidance.

What You Will Learn

This live and interactive session will cover the following:

• National Risk Assessment (NRA) - the risks for the legal sector
• SRA Sectoral Risk Assessment - what to consider when updating your practice wide risk assessment
• SRA Risk Outlook 20/21 - what you can do and the recommendations of the SRA
• SRA thematic reviews - an update on the SRA’s findings
• Key changes in the LSAG guidance including:
• AML governance
• Policies, controls and procedures
• AML risk assessments - practice and client/matter
• Due diligence - client (CDD) and enhanced (EDD)
• Source of Wealth (SoW) and Source of Funds (SoF)
• Training
• Record keeping
• MLRO reporting

Quick Quiz - Test Your Knowledge: Money Laundering

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.