The legal sector has faced an increasingly complex AML landscape over the past six months, with the Solicitors Regulation Authority (SRA) implementing new guidelines and stricter enforcement.

By June 2024, the SRA released a report that should serve as a wake-up call. It revealed that 51% of client and matter risk assessments were ineffective, exposing firms to significant vulnerabilities.

As the SRA exercised its new fining powers, it issued at least ten decisions on AML breaches, totalling £170,000 in fines in the first quarter alone. This sends a clear message - one that firms cannot afford to ignore.

This roundtable session will see our esteemed panel untangle the complexities of risk assessments: Eloise Butterworth, Compliance Manager at Lester Aldridge, Gavin Ball, Co-Owner of HiveRisk, and Arsalan Abbasi, LegalTech Consultant.

 

 

As Compliance Manager and Deputy MLRO, Eloise provides day-to-day support to Lester Aldridge’s fee earners on a wide range of regulatory and compliance topics, particularly on anti-money laundering and risk mitigation.  

Lester Aldridge, a leading law firm with offices in Bournemouth, Southampton, and London, provides expert legal advice to businesses and individuals regionally, nationally, and internationally. With a strong reputation and over 400 staff, we offer tailored solutions and a genuine partnership approach, ensuring accessibility and ease of interaction.