On 2 February, the Solicitors Regulation Authority said in a news release that, following on from the regular national economy-wide money laundering (and terrorist financing) risk assessment published by the Government in December, it has published a dedicated sectoral risk assessment looking at the specific risks and challenges within legal services. It is said that sectoral risk assessment identifies and discusses the biggest issues and emerging threats currently facing providers of legal services as they look to combat money launderers. It is complemented by the LSAG guidance, which covers all the bases of the 2017 regulations, plus a thorough review of how regulations and expectations on firms have evolved since then.
https://www.sra.org.uk/sra/news/press/new-aml-guidance/
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