Good practice is essential when implementing and maintaining AML procedures. For the individual the law is clear: non-compliance can result in fines and prison sentences. For the firm transgressions can cost reputation, cash flow and future business. For all involved there is a moral imperative to guard against criminal and terrorist operations. This new publication is an invaluable guide to ensure neither you nor your firm is threatened.

Tailoring his instruction specifically for the modern law firm, Geoffrey Dearing, solicitor at Brachers and lecturer for Central Law Training, offers practical advice backed up with a strong understanding of the legal problems. This report contains:

In depth analysis and history of the five pillars of AML regulation:
• Terrorism Act 2000;
• Proceeds of Crime Act 2002;
• Money Laundering Regulations 2003;
• Law Society Guidance, issued Sept 3rd 2007;
• The Third EU Directive, in force from 15th Dec 2007.

Practical advice on how to prepare your firm:
• What practice areas are affected;
• Who in the firm should be responsible;
• Staff training;
• The role of Money Laundering Report Officers.

Essential guidance on how to be compliant including:
• Record keeping;
• The extent of Legal Professional Privilege;
• Risk management;
• Know your client;
• Enhanced due diligence;
• Politically exposed persons.

At over 150 pages Money Laundering 2007 is a vital resource safeguarding your firm against the significant changes apparent in the Third EU Directive.