Anti-Money Laundering & Sanctions Training
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Who is this training designed for?
- Members of the Bar practising from Chambers
- First and Second Six Month pupils
- Senior Chambers support staff
This course is designed to give barristers and their staff an overview of their anti-money laundering (AML) obligations. The risk of becoming unwittingly involved in money laundering is a live one for legal professionals and, if not avoided, can lead to criminal or regulatory sanctions as well as reputational damage.
This training will explain when you are likely to have AML obligations, but also when those obligations are less likely to apply. Compliance with AML can be burdensome for professionals and intrusive for clients. It is important to know what types of litigation or advice do not trigger AML obligations in order to avoid unnecessary compliance measures.
Chambers’ staff will generally find it more helpful to use the module specifically written for all employees working in the various roles found in Chambers. A link can be found here.
How this training works
The training is divided into sections. Each section can be worked on separately and you are able to leave and re-join from different devices from the point at which here you left off. The training can be completed when you choose and at your own pace. Your licence is valid for 12 months from the date of purchase and you can revisit the course material as often as you wish to refresh your memory or for reference purposes.
This training is designed to inform you of the key concepts concerning AML as well as the practical procedures to protect yourself and your staff from liability. This training is high level and intentionally so. Such an approach is necessary given the complexity of AML law and regulations.
This training has drawn on the “Legal Sector Affinity Group: AML Guidance for the Legal Sector 2021 (Part 2a, Specific Guidance for Barristers & Advocates)”. This training will summarise and condense the 155 pages of that guidance (hereon referred to as “the LSAG document”). If you require further information then the LSAG document is the best place to start. In any event, it should be read in full by those seeking to understand how AML legislation and regulations apply to you and your practice. The LSAG document has described its “key messages” as “universally applicable to all barristers and advocates”.
This training cannot provide a comprehensive review of all relevant AML legislation. It will focus on two key authorities: the Proceeds of Crime Act 2002 (POCA) and the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR). The Terrorism Act 2000 (TA) is also relevant but less so and has not been addressed in detail. Those wishing to know more about TA should consult the LSAG document.
This training may paraphrase the relevant regulations from the MLR. Those who need the exact wording should access the MLR online.[su_icon_text icon="https://learn.abcllp.com/wp-content/uploads/2022/05/IMG_0745.jpg" icon_size="64"] Key documents
You will find references to the following key documents throughout this training:
- Legal Sector Affinity Group, Anti-Money Laundering Guidance for the Legal Sector 2021 (Part 2a, Specific Guidance for Barristers & Advocates) is available here.
- Proceeds of Crime Act 2002 is available here.
- The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 are available here.
The training will guide you through each section in a linear approach. Each sub-section needs to be completed before moving to the next. Once the training has been completed you can revisit the module and drop in and out of any section, in any order, as you wish.
At the end of the course is a test of your AML knowledge. Attaining a pass mark of 75% or more will gain access to a training certificate which you can download and print for your records.