How unexplained wealth orders help in the international fight against money laundering
Unexplained wealth orders were introduced four years ago to help tackle the problem of money laundering by high net worth individuals, often with foreign and political connections. Here, Ellen Sanchenko, Criminal Litigation and Regulatory specialist solicitor at Ronald Fletcher Baker LLP, explains how they work – and whether they are operating as intended. The concept […]
Should conveyancers answer the phone?
Should your conveyancer answer the phone? According to Bernadette Bennett, head of legal at Moneypenny and Claire Yates, consultant and conveyancing founder of CY Training Works, the answer is unequivocally no. “Technical conveyancing skills and client handling skills are two very separate things, yet many practices still expect their conveyancers to be on the front […]
Open Banking: Here to ease the growing AML compliance headache for legal professionals?
According to a December 2020 HM Treasury and Home Office report, money laundering is a “fundamental threat to the country’s future security, resilience and prosperity”, costing the UK economy an estimated £37 billion per year. A significant finding in the report was the increased risk of money laundering, due to the high amount of capital […]
Active conveyancing firms recover to pre-pandemic levels
The number of property transactions registered in England and Wales climbed 20% over the last quarter, rising to 290,248 in Q2 2021, up from 241,916 in Q1 2021, according to the latest edition of the Conveyancing Market Tracker from Search Acumen, the property data insight and technology provider. This is the highest number of quarterly […]