Author: Syedur Rahman 15 June 2020
With the Solicitors Regulation Authority (SRA) planning on-site money laundering checks on its members, Rahman Ravelli’s Syed Rahman was asked by Global Investigations Review to assess the measures.
Syed explained that the increase in the SRA’s budget for tackling money laundering shows a determination to reduce the risks. While the plan to visit all firms considered to be high-risk on a three-year rolling basis may be a burden for those who are subject to such scrutiny, it is a necessary step in order to ensure that their affairs in order. With lower-risk firms only being visited on a sample selection basis, the SRA is focusing its resources where it feels they are most needed.
In the article, Syed emphasised the importance of money laundering prevention – and the consequences of failing to meet such obligations.
Syed's comments can be read on Global Investigations Review.
Syedur Rahman is known for his in-depth experience of serious fraud, white-collar crime and serious crime cases, as well as his expertise in worldwide asset tracing and recovery, civil recovery, cryptocurrency and high-stakes commercial disputes.