Calling All Conveyancers - Key Issues for AML & Property Fraud

Introduction

In a volatile property market, there is much concern about scams, financial crimes, money laundering, and mortgage fraud of all kinds. Frauds, impersonations of clients, and well-concealed thefts from professional firms in the aftermath of recent security breaches, have all reinforced the need for cooperation and collective vigilance in all law firms and licensed conveyancers. Couple that with an increased 'muscularity' in the enforcement of the rules and regulations by the SRA and CLC and one has the makings of a real crisis of confidence.

That said, the fundamental AML regime has not changed in its main focus and, as always, requires vigilance, scepticism, and caution alongside recognition that, in the absence of evidence of criminality, we can still trust what we are told as professional advisers of whatever kind.

This live broadcast session will enable you to participate in a round-table discussion of the key issues from your own office, and you will be able to speak and contribute as if we were all in the same room together.

What You Will Learn

This live broadcast will cover the following:

• What does the law currently require?
• UK legislation and regulation - POCA 2002
• The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended)
• Latest LSAG Guidance on AML
• SRA Warning Notices and other publications
• CDD and Ongoing Monitoring as the law currently stands
• The key concerns
• AI, frauds and other crimes - the modern methods of cyber-attacks
• Key criminal and fraud offences in the property context
• How do I know when to be suspicious?
• Principal and Ancillary offences
• Tipping off
• The Regulations - current and future requirements
• Internal compliance - client & matter risk assessments with a rationale for all our decisions
• Source of Wealth and Funds enquiries
• CDD and ultimate beneficial owners - is it harder now?
• A culture, not an event - ongoing monitoring
• Practical Responses
• Do you need to change anything in your approach?
• Do we still need to obsess about ID - when e-searches have become the norm?
• OM - the real secret to unravelling suspicious matters

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.