Money Laundering And Anti-Terrorist Risk Management For Lawyers
May 15, 2020

Although lawyers are not regulated to the extent that bankers are with regard to anti-money laundering and counter-terrorist financing (AML/CTF) compliance, they are advised to be cautious in this area and “to act a bit more like bankers.” Lawyers are subject to criminal money laundering and economic sanctions laws, and they need to be aware of the possibility of inadvertent violations. Even acting within the law, lawyers may be called upon to facilitate transactions which, if revealed publicly, would be damaging to themselves as well as the client. Lawyers are advised to consult risk management guidance published by an inter-governmental body called the Financial Action Task Force (FATF).
Read full article at:
Get our free daily newsletter
Subscribe for the latest news and business legal developments.
Read this next
The AI Executive Order’s Impact on the Healthcare Industry
President Biden’s Executive Order on the Safe, Secure, and Trustworthy Development and […]
Cybersecurity Agency Warns About Hacking Collective
The Cybersecurity and Infrastructure Security Agency and the FBI have issued a […]
Data Privacy and Reputation Concerns About Adopting AI
Reputational damage was the greatest source of concern about AI, followed by […]