SRA Sectoral Risk Assessment 2024 - A Bitesized Guide to Emerging AML Risks

Introduction

On the 5 March 2024, the SRA released their latest sectoral risk assessment.

Ideal for MLROs and compliance officers, this short webinar will offer a round-up of the SRA’s views on emerging risks to law firms in terms of AML, and the factors which must be taken into consideration when updating your practice-wide risk assessment (PWRA).

What You Will Learn

This webinar will cover the following:

• Why you need a sectoral risk assessment
• The SRA and emerging risks including vendor fraud, pooled client accounts, third party managed accounts and irregular methods of transferring funds
• 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

This webinar was recorded on 8th April 2024