UK Solicitors Regulation Authority takes enforcement action against firms for AML/CFT failures
The UK Solicitors Regulation Authority takes action against three firms for AML/CFT compliance failures.
The Solicitors Regulation Authority (SRA) has fined three firms that took over a year to comply with their anti-money laundering (AML) obligations. This marks the start of its enforcement action against firms that delay acting on their obligations under the amended Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017).
Link to source article