Security Risks In The Conveyancing Sector – A Look At Anti-Money Laundering Regulations And The Impact On The Conveyancer
Today, protecting against risk has never been more critical for conveyancers. But, as criminals find newer and more effective ways to commit fraud, neither has it been more challenging. Of course, the conveyancing market is particularly attractive to lawbreakers, with solicitors and law firms regularly holding large sums of money on behalf of clients. And, one significant threat facing the sector is that […]
Estate Agents In The Fight Against Money Launderers
Estate agents may be forced to hand over private information (bank account details, company information, etc.) belonging to buyers of high-value properties in some parts of London; this is a proposal being forward by the Home Office and should come as no real surprise bearing in mind the amount of ‘dirty money’ that is allegedly […]
Law Firms Improving Anti-Money Laundering Procedures
Law firms are improving their processes when it comes to anti-money laundering procedures. Reports, about concerns involving law firms handling client money, submitted to the Solicitors Regulation Authority (SRA) by accountants, have fallen by 13% in the past year, according to SRA Accountants’ data analysed by Hazlewoods. In 2018, a total of 1,194 qualified reports […]
Property Sector Worst Hit Since Referendum Claims Economic Report
The number of UK businesses in significant financial distress has risen by 22,000 to 489,000 in the past year with businesses in the property sector and construction industry hit worst of all. According to the red flag research, conducted by Begbies Traynor, the real estate and property sector has faced the largest decline into financial […]
6% of Law Firms Are Protecting Themselves From Email Spoofing
Law firms are failing in their efforts to tackle the rising risk of cyber crime. Even with £millions continuing to be fraudulently redirected, with the associated reputational impact and knock on effect on professional indemnity insurance premiums, most law firms have not implemented even the most basic cyber security measures. The research has been undertaken […]
