The Solicitors Regulation Authority (“SRA”) has published the newest iteration of its Sectoral Risk Assessment on Anti-Money Laundering and Terrorist Financing.
The SRA is responsible for the supervision of authorised firms for their AML compliance. The risk assessment provides information on money laundering and terrorist financing risk that the SRA considers most relevant for its supervised firms.
The Risk Assessment covers:
- Emerging risks;
- Observations from the SRA’s supervision work;
- Risk in the legal sector;
- Products and services risk;
- Client risk;
- Transaction risk;
- Delivery channel risk; and
- Geographic risk.
Firms under SRA supervision can view the Sectoral Risk Assessment to remain up to date with emerging risks and trends that may impact their operations.