Regulation & Government

SRA’s AML report results in £160k fines

The report revealed that more than 6,500 firms were captured by the scope of the anti-money laundering regulations, with the work of 23,430 relevant individuals specifically of interest

The Solicitors Regulation Authority (SRA) has published its first professional supervisor report which revealed that 273 reports of potential anti-money laundering (AML) breaches were made to the board, and 29 enforcement actions resulted in fines of £160,000.

The report revealed that more than 6,500 firms were captured by the scope of the AML regulations, with the work of 23,430 relevant individuals specifically of interest.

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