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Effective AML training helps compliance officers and other relevant members of staff understand their responsibilities and apply regulatory requirements to the risks encountered in day-to-day legal practice.
Legal Eye provides live, interactive enhanced AML training designed specifically for SRA-regulated firms. The session combines core responsibilities with current and emerging risks, helping participants strengthen risk assessments, supervision and practical decision-making.
Training is delivered exclusively to your firm and tailored following an initial scoping call with your MLRO, MLCO or another relevant compliance lead.
Depending on your firm’s requirements, the training can cover firm-wide, client and matter risk assessments, source of funds and source of wealth, sanctions, suspicious activity reporting and other current financial-crime risks affecting SRA-regulated firms.
Discuss Your AML Training Requirements
Core areas the training can cover
Following the initial scoping call, the content will be tailored to your firm’s requirements. Topics can include:
- The practical roles and responsibilities of MLROs and MLCOs
- Firm-wide, client and matter risk assessments
- Proactive supervision, management and file reviews
- Client due diligence and identification and verification
- The use and testing of electronic identity-verification systems
Source of funds and source of wealth enquiries - Suspicious activity reports and UKFIU reporting
- Sanctions compliance and relevant OFSI requirements
- Proliferation-financing risks
- Material discrepancy and regulatory breach reporting
- Cryptocurrency and other emerging financial-crime risks
- Current SRA findings, guidance and areas of regulatory focus
Keeping pace with SRA AML requirements
Firms within the scope of the Money Laundering Regulations must maintain a documented firm-wide risk assessment and ensure that it informs their client and matter risk assessments.
Firms must also take the SRA’s Sectoral Risk Assessment into account when preparing and reviewing their own assessment. The current SRA assessment covers money laundering, terrorist financing, proliferation financing and sanctions risks affecting the regulated legal sector.
Legal Eye’s enhanced training can be tailored to help participants understand current developments and consider how they affect the firm’s policies, procedures and day-to-day work.
Who is the training for?
The training is particularly suitable for:
- MLROs and Deputy MLROs
- MLCOs and other compliance officers
- COLPs and internal compliance teams
- Partners, directors and managers
- Solicitors, fee earners and relevant support staff
- Anyone with enhanced AML supervision or reporting responsibilities
How the enhanced AML training works
1. Initial discussion: We discuss your firm, its services and the objectives for the training.
2. Scoping call: Key topics and areas of particular risk are agreed with your MLRO, MLCO or compliance lead.
3. Tailored preparation: The session is prepared to reflect your firm’s requirements and current regulatory developments.
4. Live online delivery: The interactive two-hour session is delivered exclusively to your firm.
5. Training materials: A recording and presentation slides are provided for appropriate internal use.
Training developed by legal-sector compliance specialists
The training is developed and delivered with input from Legal Eye’s experienced legal-sector risk and compliance professionals. Our practical approach helps participants understand how regulatory requirements apply to the risks and decisions encountered in their day-to-day work.
Discuss Your AML Training Requirements
Frequently asked questions
Will we receive a recording, and can it be shared with colleagues who cannot attend?
Yes. A recording of the session will be provided and can be shared internally with relevant members of staff who were unable to attend the live training.
Are presentation slides provided?
Yes. A copy of the presentation slides will be provided following the session for your firm’s internal reference and training purposes.
Is this different from general staff AML training?
Yes. This enhanced training provides more detailed, practical coverage for MLROs, MLCOs, compliance officers and others with additional AML responsibilities. It goes beyond general staff awareness training by considering regulatory developments, emerging risks, supervision and the practical application of the firm’s AML arrangements.
Is the training delivered live and online?
Yes. The training is delivered as a live, interactive online session, allowing participants to ask questions and discuss how the topics apply to their work.
Is the training exclusive to our firm?
Yes. Each session is delivered exclusively to your firm, enabling the content and discussion to focus on your services, procedures, risk profile and training requirements.
