Entries by Paul Wilkinson

Lockton boosts AML advisory expertise ahead of impending Government regulation

Subject: Lockton boosts AML advisory expertise ahead of impending Government regulation Lockton, the world’s largest privately owned insurance broker, is boosting its AML expertise with the hire of Amy Bell, who joins as Risk Management Consultant within the Lockton Solicitors team. Lockton boosts AML advisory expertise & upcoming webinar on preparing for changes Bell will provide key expertise on upcoming Government regulation and […]

LeO to invite live chats

Clients offered live chats with ombudsman LeO offers its ‘live chat’ service from disputes with claims management companies to all legal service providers. Live chat, which is available at www.legalombudsman.org.uk, coincides with a three-year plan by the ombudsman to improve the ease of consumers making and resolving complaints. The service runs from 9am to 5pm. Chief legal ombudsman […]

SRA IT Security Facts

SRA issued important IT security facts IT security – keeping money and data safe The facts £1 billion  was lost to business from online crime (2015-2016) £2.3 billion was lost by global businesses from email fraud (2013-2015) 75% of cybercrime reports to us are Friday afternoon fraud £1.57 million was paid by businesses in ransoms […]

SRA Cybersecurity update and Risk Outlook

Leading experts discuss cybersecurity risks to coincide with our spring update to the Risk Outlook. There was general agreement that law firms are an attractive target for criminals not only because they can hold large amounts of money but also valuable client information. Three key themes from the roundtable were that: Too often cybersecurity is […]

SRA approve Solicitors Qualifying Examination

The SRA is going ahead with the Solicitors Qualifying Examination. Plans were approved during its 12 April board meeting. The idea of a centralised exam attracted widespread criticism, including from the Law Society, when it was first floated in early 2016. A second consultation, on revised proposals that were generally considered an improvement, closed in […]

AML 4th Directive an unnecessary burden on Law Firms

‘Gold plated’ regulations transposing the EU’s fourth money laundering directive into UK law threaten to impose unnecessary burdens on law firms, the Law Society has told the government. Responding to a consultation by HM Treasury on the proposed Money Laundering Regulations 2017, Chancery Lane says that small firms and sole practitioners ‘will struggle more than […]

LSB wants more transparency in legal sector by 30 June

The LSB today published four outcomes it wants regulators to achieve, including a ‘step change’ in standards of transparency to help consumers understand the price and service they will receive. Clients must also have more understanding of the redress options available and the regulatory status of their provider. The LSB wants promotion of the use […]

Solicitor is suspended for money laundering breaches

A solicitor who transferred nearly £1.3m to an offshore bank account in Belize has been suspended for a year for breaches of the money laundering regulations and accounts rules. The Solicitors Disciplinary Tribunal (SDT) said that by doing so, Susan Barrington-Binns “may have, however unwittingly, effectively facilitated the movement of monies during the course of a […]

SRA Risk Outlook Spring 2017

Risk Outlook Spring 2017 update We have updated our priority risks online tool which provides an at-a-glance view of the Risk Outlook. This useful, practical resource includes trends information, case studies and tips on how to manage risks to your firm. What is new? Latest trends and information on cybercrime. Information on our new youth […]