1. Buying and selling of real estate, business, company, securities, and other assets/property
  2. Managing client money, securities, and other assets
  3. Management of bank, savings or securities accounts
  4. The formation, structure, re-organisation, operation, or management of companies and other entities/legal arrangements
  5. Certain insolvency and tax advisory cases
  6. Other transactions involving custody of funds as stakeholder or escrow agent or transfer of funds through their bank accounts

However, given the nature of services provided are different and their obligations towards their clients and the public do vary, separate sets of considerations must be taken into account.

For law firms, the duty of care tend to be more focused on the client themselves and services are geared towards advising on a wide range of legal topics based on facts for each case. Instructions received from clients and the worked performed by legal professionals have risks more heavily influenced by the scope of work alongside the overall profile of the client.

Services offered by those within legal industry can be as routine as intellectual property filings to complex transactions and arrangements with existing legal principles and rules being the main determination on the nature of work. Developing an AML regime or obtaining compliance advice suitable for their line of work will require an understanding of concepts relevant to these service channels and risk associated with them.

How AML Assuracomp
can Assist?

Assuracomp is able to provide advice and deliverables suitable for the law firm’s line of work while taking into account the full context of how these service channels are carried and risk associated with them. This results in policies, procedures, and processes that properly manages risks relevant to the regulated enterprise itself. Furthermore, allows for greater level of flexibility whenever appropriate and higher levels of end client acceptance for the firm’s AML measures. Ultimately, a better utilization of resources, time, and effort in achieving compliance with laws and guidelines.

More Details on Our Services?

As services facilitating with regulatory compliance and the improvement of business operational efficiencies can be highly modular and tailored made to each circumstance, we welcome any queries you may have on how we can help with the challenges you are encountering. Please click the below “Get In Touch” button or reach out to us using the contact details available at the bottom of this page.