Source of funds/wealth – reminder

April 2025 | Conduct, practice and risk management
The SRA has imposed the maximum fine that it can impose on recognised bodies of £25,000 for AML failings. The firm acted for a non-domestic politically exposed person (PEP) and their associated companies across 36 matters. The matters consisted of residential property purchase transactions, refinancing and reassignment work. The SRA’s report reminds us that: ‘2.3 …
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