Anti-Money Laundering & Financial Sanctions v5.2 – for Chambers Staff

Who is this training designed for?

This course offers an overview of the law and procedure concerning the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“MLR”) as well as the UK sanctions regime.

This training course is designed for:

• Chambers support staff

Lawyers and Chambers are at risk of unwittingly becoming involved in money laundering and/or the breach of sanctions. Lawyers who fall into such misconduct are at risk of criminal or regulatory proceedings with severe consequences. As Chambers Staff and Clerks, you are often the gatekeepers for new clients, dealing with initial instructions, fee quotes and monies on account.

Why is this training important?

Recently, in the space of six-months, the Solicitors Disciplinary Tribunal (‘SDT’) fined two different firms and their directors a total of £63,000 for their failures to comply with their obligations under the Money Laundering Regulations. During the investigation process, the SDT considered 15 client files and their compliance with the regulations. It was discovered that 12 of those client files had AML compliance issues with three involving funds from China and one file where the source of funds was uncertain, but the firm had failed to make any enquiry into the source of the funds.

The consequences of failure to comply with AML requirements can be summarized as follows:

• Prosecution: individuals may face long term prison sentences, as well as large fines, if found guilty of money laundering offences.
• Damage to Reputation: Affecting both the barrister and chambers, failure to comply with AML regulations may lead to longstanding clients taking their business and cases elsewhere.

About the author

Alejandra Llorente Tascon 2016 call

Alejandra Llorente Tascon is a barrister at Mountford Chambers who specialises in criminal and military law, She is a respected jury advocate who manages complex and sensitive legal cases, with experience on both the prosecution and defence sides.

She is recognized as a Leading Junior (Tier 4) in The Legal 500 and regularly takes on the role of sole counsel or leading junior in major, multifaceted cases. Her work spans a wide range of serious criminal matters in both the Crown Court and the Court of Appeal.