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Commercial Property – Top AML and Source of Funds Tips
Firms across the board are aware that they need to tighten their AML processes, with continued increased scrutiny from the regulators. Commercial Property departments are now needing to explore ways in which Source of Funds checks play an important part in commercial transactions just as much as in your residential department.
This webinar brings together two experts from the sector; our Senior Compliance and Regulatory Specialist, Norman Denton and Tom Lyes, Head of Legal at Armalytix for a comprehensive and informative discussion around top tips for AML and Source of Funds, along with hands-on insight.
Helping gather the right evidence in commercial property transactions can be complex, this webinar not only explores top tips around SoF and AML, but also;
- Complex structures
- Beneficial Owners
- Opening banking for business accounts
- The type of evidence you should be collecting
- How the right technology can help
Commercial Property – AML & Source of Funds Top Tips from Armalytix on Vimeo.
Speakers
Norman Denton | Senior Compliance and Regulatory Specialist at Legal Eye
Tom Lyes | Head of Legal & Property at Armalytix
After 6 years working for. a top conveyancing business, Tom joined Armalytix in October 21 with the aim of helping law firms get source of funds information safely and efficiently from clients using Open Banking and other smart technology. Source of funds is a significant challenge for conveyancers as outlined by the SRA, CLC and LSAG guidance. Tom sees huge room for growth in how this information is collected and how technology can help analyse data to better support lawyers and mitigate the threat of AML and fraud by catching bad actors early.
Norman is an accredited Lexcel consultant working with Legal Eye for 11 years, regularly presenting on AML for law firms, and works with a variety of firms across the country on their risk and compliance needs. A very strong financial and risk management background gained through 25 years with a major bank, including 10 years as a lending manager to the professional sector, is underpinned by his depth of all-round business experience. When combined with his ability to objectively review a business, its leaders and market position this ensures a high level of stakeholder satisfaction.