Tag: Legal

SRA AML fines hit £600,000 in 2026: What compliance teams should be taking from this

SRA AML fines

Key takeaways The Solicitors Regulation Authority (SRA) fined 59 law firms a total of £600,000 in six months for Anti-Money Laundering (AML) compliance failures, primarily involving missing risk assessments and inadequate AML controls. Client and Matter Risk Assessments (CMRAs) remain a major enforcement focus, with several firms unable to demonstrate that assessments had been completed […]

Anti-Money Laundering (AML) compliance for legal and professional services firms

aml compliance in professional services

Anti-Money Laundering (AML) compliance is more than a regulatory requirement for legal and professional services firms. It’s a safeguard that protects clients, the firm, and the integrity of the financial system. From verifying client identities to monitoring high-risk transactions, firms play a key role in preventing financial crime and maintaining trust in every engagement. Staying […]

Building a smarter FWRA: A practical guide with expert insight

fwra guidance

The firm-wide risk assessment (FWRA) often sits at the heart of a law firm’s approach to managing Anti-Money Laundering (AML) risks. Yet many compliance managers face the challenge of turning what can feel like an unwieldy, checklist-driven document into a tool that genuinely reflects the risks their firm faces. Recent conversations among compliance professionals have […]

Why firm-wide risk assessments fail – and what to do about it

Firm wide risk assessment sra

Ask any compliance manager at a law firm how confident they feel in their firm-wide risk assessment (FWRA), and you’ll often get a measured pause before a cautious answer. And that hesitation says more than most official policies ever could. The truth is, while most law firms have an FWRA, many don’t fully use it […]