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Podcast Location:
Download it here [file size: 22.3 MB]
Categories:
Banking and Financial Services
Fraud, Financial Crime & Anti-Money Laundering
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast is aimed at those interested in financial crime and compliance issues. It aims to explore the structure and purpose of the UK’s anti-money laundering rules which have their base in the Proceeds of Crime Act 2002 and impact significantly on the day to day activities of a great number of financial and other commercial institutions when handling their client’s money. Part 1 sets out what anti-money laundering is all about, its impact on lawyers and the consequences of proceeding with a transaction that may be tainted by the proceeds of crime.

Outcomes:
After completing the course you will:
  • Understand the structure and purpose of the UK’s anti-money laundering regime and the means by which it seeks to ensure compliance;
  • Understand the extent to which lawyers should prioritise anti-money laundering;
  • Understand which lawyers are likely to be most at risk from money laundering;
  • Understand the key consequences when proceeding with a transaction which may be tainted by the proceeds of crime.
Level:
Intermediate Difficulty: 3 of 5
Classification:
Introduction
Legal Principles
Sources and References:
  • The Money Laundering Regulations 2007 (2157/2007);
  • P v P [2003] EWHC 2260;
  • Bowman & Fels [2005] EWCA Civ 226;
  • Proceeds of Crime Act 2002 328, 330, 340(2), (3), 344.
Tags:

In this two-part CPDcast mini-series commercial barrister Paul Marshall from 4-5 Gray’s Inn Square outlines and discusses the structure, purpose and workings of the UK’s anti-money laundering consent regime. Part 1 focuses on the purposes and overarching structure of the AML rules and part 2 goes on in more detail to look at the mechanics and concepts that underpin the ‘consent regime’ and its effect on UK businesses and financial system.

Podcast added: 01/01/2012

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