Anti-Money Laundering & Financial 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 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. Lawyers 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.
This training is mostly applicable to lawyers, but will also be a useful learning tool for staff occupying senior positions in Chambers.
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 MLR and sanctions. This training is high-level and designed to set out the key points of law and procedure. The training cannot be comprehensive due to the complexity and volume of the areas of law involved. If you are ever in doubt about your liability or obligations then you should seek independent legal advice.
The MLR training has drawn on the “Legal Sector Affinity Group: AML Guidance for the Legal Sector 2021 (Part 2a, Specific Guidance for Barristers & Advocates)” (hereon referred to as “the LSAG document”). If you need 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 their obligations under MLR. The LSAG document has described its “key messages” as “universally applicable to all barristers and advocates”.
The sanctions training has drawn on the guidance issued by the Office of Financial Sanctions Implementation (OFSI), which is available here.
This training may paraphrase the relevant regulations and law. Those who need the exact wording should access the MLR and other sources online.
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.
- Financial sanctions: general guidance 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 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.