The Legal Sector Affinity Group has today published an advisory notice exploring the risks associated with the use of Chinese informal value transfer systems (IVTs) that do not use the normal banking system and/or have not complied with Chinese currency controls. The guidance aims to assist firms in situations where the firm is asked to undertake a transaction where the client’s money has come from China and addresses the key risks firms need to consider.
National firm fined over £100,000 by Solicitors Regulation Authority
National firm Ashfords LLP has been fined more than £100,000 by the Solicitors Regulation Authority for money laundering compliance failures...
