On 20 April, the Law Society of Scotland advised that it had published the results of its major AML thematic review into practices’ Policies, Controls and Procedures (PCP).  Launched in June 2022, the thematic review sampled PCP across 40 practices in order to better understand how the profession complies with its obligations under the money laundering regulations and the Legal Sector Affinity Group (LSAG) guidance.  It is said that the team was encouraged by some of the data identified through the thematic review. However, a number of significant deficiencies were highlighted.

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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