Calling All Conveyancers - Key Issues for AML & Property Fraud
In the current fragile property market, there is much concern about scams, financial crimes, money laundering and mortgage fraud. 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.
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.
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 and Criminal Finances Act 2017
- The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
- LSAG Guidance on AML
- CDD and Ongoing Monitoring as the law currently stands
- The key concerns
- 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 including 5MLD
- Internal compliance - new obligations and the SRA response
- Internal matters - watching the staff; monitoring the policies
- CDD and beneficial owners - is it easier now?
- A culture, not an event - ongoing monitoring
- Practical Responses - Delivering the newer agenda
- Do you need to change anything?
- Do we still need to obsess about ID - when recent case-law acknowledges that it can all be false anyway?
- 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.