It seems that the SRA sent out emails en mass on 2nd July 2024 informing many, if not all, law firms that it regulates that they will be sending out to them a Financial Crime Questionnaire in early August that they will want completed by mid-September.

Here is a link to the Sample of the Questionnaire they have shared: https://www.hunningsconsultancy.co.uk/wp-content/uploads/2024/07/aml-data-collection-2024-questionnaire.pdf

Here is a copy of the message received by one of our client firms. Here is a link to the page of advice on the SRA website: https://www.sra.org.uk/sra/news/firm-anti-money-laundering-sanctions-data-requirements/

What is noticeable is that it is mandatory for every firm to complete the Sanctions section, whereas the AML section will only need to be completed by certain firms (read the questions & criteria).

This may come as a bit of a shock to many firms who are not up to speed with compliance with the Sanctions Regime. ALL businesses are within scope with regard to Sanctions Compliance.

We Can Help with:

a) Completion of the SRA Questionnaire - fee: £100 + VAT

b) Sanctions Training

c) An AML & Sanctions Manual

d) AML Training

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