... in this arena to date. Anti-money laundering Customer due diligence Legal profession Pooled Client Account Simplified due diligence Law firms routinely hold the funds of multiple clients in pooled client accounts (PCAs) with banks. Those banks in turn must apply customer due diligence (CDD...

...Lisanawati Go; Njoto Benarkah As AUSTRAC’s (2015) report states, money launderers have undertaken complex and sophisticated schemes to process their illicitly gained money. This has made legal professionals vulnerable, as money launderers seek safety under the umbrella of the legal profession...

... between the LPA and MLPA, the LPA should give way to the MLPA by virtue of s. 315(3)(c) CFRN[ 14 ] and the MLPA should rank higher than the subsidiary legislation made pursuant to s. 20 LPA[ 15 ]. The requirement for legal professionals to comply with anti-money laundering (AML) requirements...

... of the obligations of disclosure with legal professional privilege and the rights of the defence. This issue is discussed in the paper. Findings With regard to lawyers there arises a conflict between the duty to maintain client confidentiality and the obligations of disclosure in the prevention of money...

...Stephen Schneider Purpose To explore how lawyers are used to launder the proceeds of criminal activity. Regulatory measures that compel legal professionals to report suspected money laundering, and the implications this has for solicitor‐client privilege, are also addressed. Design/methodology...