Law and Accounting Firms

Lastest News
USA, UAE sign bilateral cooperation agreement against terrorism, transnational and cybercrime.
U.S., U.K., E.U. to remove selected Russian banks from the SWIFT system.
NZ Ministry of Justice calls for submissions to review the country’s AML CFT Law.
Central Bank of Oman and NCFI cooperation agreement to enhance AML CFT information sharing.

Law and accounting professionals are required by law to screen clients before providing services. Reporting on ground of AML and CFT suspicions do not constitute a violation of privilege, sanctions screening obligations apply to non-regulated actors as seriously as to regulated industries. Accounting and law professionals are obliged to not to make resources available to SDNs or assist with the facilitation of an offence covered by sanctions regimes or AML laws. Risks increase radically when law and accounting professionals are assigned remittance or fiduciary duties.

Screening Obligations

It is vital for law, accounting professionals to do AML and CFT checks before onboarding clients, accepting transactions, or helping with transfers of resources.

As of 2022, with Western governments and regulators shifting focus to tackle stolen wealth, the flow of corrupt capital and legal “enabling” in democracies, law firms will be subjected to even more strenuous requirements, multiplied statutory instruments, and face multi-faceted

There will be no place for misconceptions, incomprehensive screenings, or lack
of awareness when it comes to fulfilling obligations.

Sanction Trace’s full suite of capacities can be utilised by law professionals, both for consultancy-based and firm-wide checks as well as to cater to their clients’ needs.

Maximum Clarity

Illuminate layers of data about prospective clients, make informed decisions.

A Risk Compass

Sanction Trace’s rich data provides a nuanced, comprehensive picture of risks law firms face.

For your Clients’ Needs

Utilise Sanction Trace’s due diligence capacity to serve your clients’ needs.