How to use the SRA’s client and matter risk assessment template
Adapt it correctly and it can help you build a process that works The Solicitors Regulation Authority’s (SRA) recently-released template for client and matter risk assessments is just the beginning of a firm’s assessment journey with its clients and matters. The templates were created to guide firms and help them understand the SRA’s requirements and […]
Omnitrack version 2.93.0
Export Audit Trail to CSV and Public API Support We have added the option to download the complete audit trail in CSV format, making it easier to generate reports and integrate your data into third-party systems. As an admin, you can navigate to “Audit Trail” and click the ‘Export to CSV’ button at the top […]
SRA releases client and matter risk assessment template to combat high levels of non-compliance
Template available in Omnitrack In a session on anticipated increased AML regulations at the Law Society’s recent Anti-Money Laundering and Financial Crime Conference 2023, the Solicitors Regulation Authority’s (SRA) representative made an announcement: The agency would be releasing a client and matter risk assessment template. Anyone attending the conference could hear the sighs of relief […]
Client and matter risk assessments – what are firms not getting right?
The SRA have raised concerns of persistent non-compliance of law firms when it comes to client and matter risk assessments. The SRA feels this is a strong area for improvement for firms. In 2019/20, nearly a third of client files had no written matter risk assessment, while in the last reporting period of 2022/23, over […]
Rising Demand for Menopause Support in the Workplace: New Data Reveals Urgent Need for Action
Our latest research into Google’s online search patterns sheds light on the growing need for menopause support in the workplace. Recent findings demonstrate a significant increase in online searches related to menopause and workplace adjustments, indicating a pressing demand for more inclusive workplaces. Online queries for ‘menopause and workplace adjustments’ have surged by a staggering […]
Why is there a crisis of AML compliance in law firms?
Data from the SRA shows less than a third of law firms are fully compliant The SRA’s annual report highlighted a sobering statistic that less than a third of law firms inspected, 30%, are fully compliant with the anti-money laundering regime, with just over half, 51% partially compliant. Nearly a fifth, 19%, were actually found […]
Is crypto dead?
The criminal trial of Sam Bankman-Fried, founder of failed cryptocurrency FTX, opens and it could determine the fate of crypto In what is likely to become a referendum on the cryptocurrency industry, Sam Bankman-Fried’s criminal trial got underway in federal court in New York City. Bankman-Fried, the founder of FTX, the cryptocurrency that collapsed spectacularly […]
Modern slavery, CSRD and the supply chain
What is modern slavery? Modern slavery is the term used to describe some of the world’s worst forms of exploitation, including human trafficking, domestic servitude, child labour, debt bondage, forced marriage, sexual exploitation and more. It is estimated that as many as 40 million people are now trapped in modern slavery worldwide, more than at […]
The German anti-money laundering revolution
How the establishment of a new AML super agency could change the game for AML compliance Once considered a haven for money launderers, the Federal Republic of Germany has taken some significant steps to potentially revolutionise the fight against money laundering. FATF had previously criticised Germany for the prevalent use of cash payments – anyone […]
Multi-million pound money laundering fine against financial services firm levied by FCA
Lack of risk assessments and outdated policies contributed to failings ADM Investor Services International Limited, a commodities services broker, have been hit with a significant £6.47 million fine by the Financial Conduct Authority (FCA) for inadequate anti-money laundering systems and controls.
