“Home buying cybercrime is the most common crime in the legal sector”, according to the SRA.
In today’s financial climate, it is necessary to be extra vigilant during the process of buying and selling a home and as a solicitor/conveyancer this responsibility falls heavily at your feet! We want to help you in managing that risk.
It is a rapidly changing market and requires constant vigilance but there are steps you can take to mitigate these risks.
Do you know whether the law firm that you are dealing with on the other side is bona fide before you transfer over your client’s money?
Lawyer Checker allows solicitors and conveyancers to reduce risk by gathering further information on whom they are dealing with in regards to transfer of funds during a property transaction. The simple check allows allow solicitors/conveyancers to find out if a firm has a history of transactions in conveyancing or whether they pose a potential risk; before any money changes hands.
Anti-Money Laundering (AML)
Solicitors and conveyancers need to be aware of money laundering, with large sums of money changing hands; it is an attractive way for criminals to disguise proceeds of crime in the audit trail making them appear as having been derived from a legitimate source.
Since the introduction of the European Union Fourth Anti-Money Laundering Directive (EU4MLD) and changes in UK law came into force on 26th June 2017 there has been an increased focus on risk assessments, ongoing due diligence and compliance reporting. Our AML offers a real time screening platform to assist you when complying with these regulations, as merely obtaining a copy of a client’s identity documents no longer suffices.