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UK law firm compliance forecast: May 2024—AML/CTF, FCA financial crime, ECCTA failure to prevent fraud, sanctions, LSB complaints, data protection and AI

Published on: 23 May 2024

Published by a LexisNexis Practice Compliance expert
Legal News
Table of contents
  • New items we’re tracking this month
  • Updates to existing items we’re tracking
Article summary

Our update monitors proposed regulatory shifts affecting law firm compliance, enabling you to prepare for developments that could impact your organisation. Please review it thoroughly; key matters to keep on your radar appear below.

New items we’re tracking this month

  • UK national risk assessment — HM Treasury and the Home Office are refreshing the UK’s national risk assessments covering money laundering, terrorist financing and proliferation financing. The government is inviting evidence from the private sector on money laundering, etc., threats from 2020 to the present. Responses are due by Thursday 30 May 2024. See: AML, CTF and counter-proliferation financing
  • FCA consultation on Financial Crime Guide update — the FCA is seeking views on proposed revisions to its Financial Crime Guide concerning sanctions, proliferation financing and transaction monitoring
...

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