Anti-money Laundering Compliance for Law Firms

A handbook and guide, advising on practical implementation of the European Union Fourth Anti-Money Laundering Directive. Assisting European law firms in remaining compliant.

The European Union Fourth Anti-Money Laundering Directive is the most sweeping AML legislation ever to have been introduced in Europe. It aims to strengthen the existing rules, prioritising the fight against tax avoidance, money laundering and terrorism financing by reinforcing the necessity of measures such as risk assessments, setting clear requirements about beneficial ownership, and expanding the definition of a politically exposed person. This second edition of Anti-money Laundering Compliance for Law Firms is intended as both handbook and guide, advising on practical implementation of the Directive's mandates and assisting European law firms in remaining compliant. It will also act as a best-practice toolkit for firms practising beyond Europe. Featuring contributions from a range of experts in the field - from barristers specialising in financial crime to compliance experts and consultants - this timely publication provides the latest intelligence on successful adherence to the Fourth Directive, along with an anticipatory exploration into the possible effects of the upcoming Fifth Directive and changes within the regulatory landscape.

Chapter 1: Reviewing the AML landscape By Ruth Paley, principal associate at Eversheds Sutherland Chapter 2: Evidencing compliance with the key requirements of MLR 2017 - practical help By Ruth Paley and Zia Ullah, principal associate and head of corporate crime and investigations at Eversheds Sutherland Chapter 3: Politically exposed persons and their definition By Anita Clifford, principal associate at Bright Line Law Chapter 4: Source of funds and source of wealth enquiries By Amy Bell, director of Teal Compliance Chapter 5: Managing the risks - the need for compliance strategies By Tracey Calvert, director of Oakalls Consultancy Chapter 6: The UK Criminal Finances Act 2017 and its wider implications By Michael Ruck, partner at TLT LLP, and Angela Craven, associate at TLT LLP Chapter 7: Benefi cial ownership provisions of the Fourth and Fifth Directives By Ian Hargreaves and Deirdre Lyons Le Croy, partner and associate at Covington & Burling LLP Chapter 8: Sanctions and their implications for law firms By Robyn Brown, associate at Eversheds Sutherland Chapter 9: The proposed Fifth EU Money Laundering Directive By Ruth Paley and Zia Ullah, principal associate and head of corporate crime and investigations at Eversheds Sutherland