5 The mechanical aspects of the UK AML regime

DOI: 10.4324/9780429019906-5

5.1 Introduction – customer due diligence (CDD)

The MLR 2007/2017 act as the companion piece to POCA 2002 and require law firms to comply with an array of AML obligations surrounding, inter alia, CDD, training and record keeping. It is to these mechanical aspects of the regime that this book now turns, focusing on the compliance issues that participants face upon client onboarding, and when dealing with their clients on a day-to-day basis. In line with an empirical study of this nature, this chapter and the ensuing chapters do not attempt to draw out the provisions of every single regulation that law firms in the regulated sector are required to comply with. Rather, ...

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