Costs - AML Policy Notifications

Features	Pricing	Commitment
AML Policy Notifications Quarterly notifications of additional suggested paragraphs for your CQS AML Policy.	£75.00 + VAT per month firmwide for up to 10 users	Cancel at any time	Register

What is the AML Policy Notifications Service

Does your firm’s AML policy put your firm at risk? How often does your firm update their AML Policy? Does your firm’s MLRO have the resources to consider what updates should be included to tailor the firm’s policy?

Regulation 19 of the Money Laundering Regulations 2017 requires that you regularly review your PCPs.

What does ‘regularly’ mean? As a subjective concept, this may well mean different things to different practices, depending on the size and nature, the risk profile and so on. Many experts suggest that an annual review would be stretching the limits of ‘regular. This does not mean that you are expected to update your policy monthly. You may wish to consider updating the policy quarterly. You may wish to bring this forward due to any of the following:

• a change in the law or guidance
• a Financial Action Task Force recommendation
• change within your practice such as a new practice area/partner, new technology or new systems

Through Lexsure’s AML Policy Update Service, you will receive quarterly notifications detailing the most pertinent newly-drafted paragraphs for your consideration in updating your AML PCPs. Each update typically includes five to ten carefully selected paragraphs composed during the preceding quarter.

Updating your AML policy is particularly important given the constantly moving landscape of AML risk management.

This service is only applicable to SRA regulated law firms in England and Wales