ID & V: A Starting Point, Not the Solution

When it comes to selecting a provider for client onboarding, many platforms excel at specific aspects of client due diligence but often do not cover the process in it’s entirety. This gap can result in the need for additional purchases, training, and management of multiple logins from various providers to address all areas. Identification and […]

Personalisation in Client Services: How to Do It Right

Personalisation in client services is not just a nice-to-have but a necessity. Clients expect tailored experiences that cater to their specific needs and preferences. Personalisation can significantly enhance client satisfaction and loyalty, which will drive the success of your firm. Here’s how to do it right: 1. Understand Your Clients’ Needs and Preferences The first […]

How to conduct Enhanced Due Diligence (EDD)

Enhanced Due Diligence (EDD) is reserved for managing higher-risk clients and transactions. It involves a more rigorous investigation compared to Standard Due Diligence to ensure that firms have a full understanding of who their client is and the risks they present before working with them. Here’s a list of key actions on how to conduct […]

Identifying Shell Companies

Shell companies are frequently used in criminal networks as a means to conceal money laundering activities. They are essentially an entity or a "shell" of a company which seems to be receiving funds and passing them off as revenue as a means of cleaning dirty money. When taking on a corporate client, identifying beneficials owners […]

Top Reasons for AML fines (and how to avoid them)

The Solicitors Regulation Authority (SRA) conducts annual inspections for law firms across England and Wales, which could be on-site, thematic or desk-based. Each year a report is generated from the findings which include a summary of breaches and non-compliance. Below, we have listed the most common breaches found and how they can be prevented. Inadequate […]

The Benefits of Consistent Compliance

What do we mean by ‘Consistent Compliance’? Whilst we all know that Anti-Money Laundering (AML) regulations are continuously updated to address emerging risks, processes and procedures should remain consistent. This concept brings about the importance of consistency when meeting internal policies which reflect changes in regulatory requirements. How? It is a legal requirement for all […]

Tips for Effective AML Risk Management

Given the high stakes and complexities involved in legal practice and wider professional services, risk management strategies remains top priority in ensuring that potential threats are identified, assessed, and mitigated before they become significant issues. Here are some essential tips for firms to help manage risk effectively: 1. Understand the Types of Risks Firms providing […]

Delivering Consistent Client Excellence

Delivering consistent client excellence is more than a goal; it is a necessity. Clients are not just looking for legal expertise but also a seamless, responsive, and personalised experience. Here’s how law firms can ensure they deliver consistent client excellence. Understand Client Needs and Expectations To provide exceptional service, you’ll need to understand what your […]

5 Key Strategies for Improving your Client's Digital Onboarding Experience

Client experience is the key factor when it comes to referrals, and convenience plays a major role in the decision-making process throughout the engagement. As a result, firms face increasing pressure to utilise technology that enables clients to access their files and manage tasks remotely. In this article, we'll explore 5 key strategies to enhance […]

How often should you undertake Client Due Diligence?

Introduction Client Due Diligence (CDD) is the process of verifying and assessing the identity and background of current and potential clients, to ensure they’re not involved in illegal activity such as money-laundering or terrorist financing. It is a requirement for regulated businesses such as law firms, accountants or financial services. The process involves collecting and […]

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