Anti-money-laundering information

Keeping the profession free of money laundering is in everyone's interest.

It means that we can disrupt serious crime, which funds everything from terrorists to people traffickers. And if we are to continue to succeed as a leading international legal sector it is essential that we maintain trust in the profession.

You all play your part and we know the vast majority of solicitors want to do the right thing, but none of us can afford to be complacent.

New requirements – two-week data collection window opens 22 January

The Government thinks that more can be done and in June introduced new regulations. These new regulations put new obligations on you as the profession and us as a regulator.

Although we already hold some information about you, we now need to ask you for comprehensive information, as required by the new regulations, about which firms offer services that fall within the scope of the money laundering regulations and who is working within these firms. We will be sending you a mandatory data collection form on 22 January.

We have already contacted you with details of what you need to do and how to prepare. We have put the questions we will be asking you on our website, along with a Q&A. The questionnaire will be open for two weeks.

Collecting this data could result in changes being made to your firm’s mySRA account, such as the designation "anti-money-laundering compliance officer". You should not remove these changes from your account, unless the individuals stop doing work covered by the regulations.

Money laundering is a priority risk

We treat any money laundering issues seriously and it remains a priority in our risk planning. The Law Society has produced guidance on the new regulations which you might find useful:

Go to the Law Society guidance

The National Crime Agency meanwhile has issued guidance for Money Laundering Reporting Officers when seeking consent – now referred to as a defence – if submitting a Suspicious Activity Report (SAR):

Go to the NCA guidance

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