Blog 

28/02/2024
Validient - Leading Compliance Management System Secures Funding

Newport-based legal tech company Validient that is helping the professional services sector to keep up with increasing regulatory compliance has secured a second investment from the Development Bank of Wales and Wesley Clover. Validient was established by young entrepreneurs Ieuan Leigh, Katie Turnbull, Thomas Elliott and Gareth Williams after completing the Alacrity Foundation programme in 2021. The unique entrepreneurship course combines graduate entrepreneurs with world-class mentors to […]

25/01/2024
Common Misconceptions About Client Due Diligence

Introduction Client Due Diligence (CDD) is required across various industries, with a particular focus on sectors like financial services and the legal industry. The nature of CDD lies in enabling businesses to assess and comprehend their clients thoroughly. This process is integral in mitigating risks associated with financial crimes such as money laundering, fraud, and […]

10/01/2024
5 Key Steps for Effective Client Due Diligence

Client Due Diligence: Ensuring EffectiveRisk Management and Regulatory Compliance Client Due Diligence (CDD) is a fundamental process that regulated businesses, especially in the financial and legal sector, undertake to understand their clients, assess potential risks, and ensure compliance with regulations aimed at preventing financial crimes such as money laundering, terrorism financing, and fraud.  This report […]

14/12/2023
What Should Law Firms Ask Legal Tech Companies?

Introduction When speaking to law firms, one challenge related to legal tech is around how does a firm know which solution is the right fit for them - and often don't know the right questions to ask legal tech companies. Back in 2020, we saw that law firms rushed to implement technology to deal with […]

23/11/2023
The Crucial Role of a Compliance Officer in Legal Practice

Introduction In this blog, we will explore the role of a compliance officer in legal practice and how technology can transform how they operate. The legal landscape has evolved significantly, demanding stringent adherence to regulatory frameworks and ethical standards. Law firms, being the custodians of justice, have a pivotal role in maintaining compliance. Within these […]

07/11/2023
Uncovering the Role of AML Enablers: Safeguarding the Financial System

Introduction Money laundering poses a significant threat to the stability and integrity of the global financial system and is often a concern for AML enablers. It allows criminals to legitimise ill-gotten gains, finance terrorism, and evade taxes, ultimately undermining the rule of law. To combat this menace, Anti-Money Laundering (AML) regulations have been put in […]

20/10/2023
Law Firm Risk Assessments Guidance 2023

Compliance Officers Conference 2023 On Wednesday, 18th October 2023, the Solicitors Regulation Authority (SRA) hosted the annual Compliance Officers Conference at the ICC in Birmingham. The aim of the event? To bring together Compliance Officers for Legal Practice (COLPs) and Compliance Officers for Finance and Administration (COFAs) to understand the future of the regulatory landscape, with […]

18/09/2023
How to identify an Ultimate Beneficial Owner (UBO)

Introduction In business and finance, transparency and accountability are essential pillars that ensure trust and integrity. One crucial aspect of transparency is the identification of the Ultimate Beneficial Owner (UBO) of a company. The UBO is the individual or entity that ultimately owns, controls, or benefits from a business entity. Knowing the UBO is critical […]

04/09/2023
What is Biometric Authentication

Introduction Authentication is a cornerstone of the legal profession. Lawyers, firms, and institutions regularly deal with sensitive and confidential information. Ensuring the identity of clients and stakeholders is paramount to maintaining the integrity of legal processes and complying with legal and ethical standards. Biometric authentication, a technology that relies on unique biological and behavioural traits, […]

22/08/2023
Who Compiles the Financial Sanctions List?

In today's interconnected world, economic and political relationships often extend beyond borders, making maintaining international security and stability crucial. One tool governments and international organisations employ to achieve this goal is the imposition of financial sanctions. These sanctions aim to influence the behaviour of targeted individuals, entities, or countries by restricting their access to the […]

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