SRA Sectoral Risk Assessment 2024 - Updated Guidance for the Legal Sector

Introduction

Released in March 2024, the latest SRA sectoral risk assessment looks at emerging risks including vendor fraud, pooled client accounts, third party managed accounts and irregular methods of transferring funds. Sanction has also been given a section of its own.

You must take this information into consideration when putting together your practice-wide risk assessment (PWRA).

So, have you read the updated guidance and reviewed your PWRA?

Aimed at MLROs and compliance officers, this virtual classroom seminar will discuss the SRA’s views on emerging risks to firms in terms of AML, and the factors which must be taken into consideration when updating your PWRA.

What You Will Learn

This live and interactive session will cover the following:

• Why you need a sectoral risk assessment
• The SRA and emerging risks
• Emerging risks to consider in your PWRA
• SRA proactive supervision - things to note
• Risks in the legal sector
• Key points for the five areas of risk to consider in the PWRA - clients, geographic, products and services, transactions and delivery channels

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.