Money Laundering

Money Laundering and Proceeds of Crime

February 16th


Money Laundering and Proceeds of Crime: What you and your firm need to know

February 16th

2 - 5pm

Speaker: Tim Edward

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£135+VAT (Member price)

3hrs CPD

Tim Edwards is the Money Laundering reporting officer and Proceeds of Crime Act nominated officer for Maclay, Murray, Spens.

In this session he will discuss the recently implemented Money Laundering Regulations 2017 and what changes you and your firm may need to make to your processes in order to become compliant. He will also cover The Proceeds of Crime Act and how your firm can minimise risk of contravening current regulations.

This seminar will cover the following topics:

  • The Impact of the Money Laundering Regulations 2017 and the 4th Money Laundering Directive
  • In particular changes to requirements for Customer Due Diligence, establishing beneficial ownership and identifying Politically Exposed Persons
  • What internal controls, policies and procedures should firms have in place?
  • What policies should firms be following with regard to Suspicious Activity Reports?
  • What precautions should firms have in place to ensure they are not contravening POCA rules or unwittingly covering up fraud/money laundering
  • What are the rules on privilege and tipping off in this regard?
  • What are the consequences/penalties of failing to comply?
  • What is the current guidance from the Law Society of Scotland as supervisory authority?
  • The event begins at 2pm. Delegate registration is open from 1:30pm.

    Tim is a Partner and Head of Commercial Dispute Resolution, specialising in insolvency and company litigation. He works closely with the Company Department in providing advice in these areas and has experience of handling large-scale commercial litigations. Tim also heads up the firm's professional indemnity insurance unit which handles all types of professional negligence claims, specialising particularly in architects' and engineers' negligence. Tim is an accredited specialist in professional negligence by the Law Society of Scotland.