LAW SOCIETY SCOTLAND URGED TO CLEAN UP ITS ACT ON MONEY LAUNDERING AFTER REVIEW

Herald Scotland on 10th February reported that the body had been given until July to better train staff on how to spot potentially dirty transactions and ordered to introduce a “whistleblowers’ hotline” to encourage solicitors and the public to report concerns.  Experts say reporting even suspicions of malpractice is “woefully low” in the legal sector.  The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) conducted a review of the Law Society of Scotland last year which the Society said was “mainly positive”.  However, it has now set up an online and telephone reporting service to encourage professionals and the public to submit SAR about financial impropriety as part of the move to address the concerns raised in the review.

https://www.heraldscotland.com/news/17421889.law-body-urged-to-clean-up-its-act-on-money-laundering-after-review/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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