In this episode of the AML Clinic podcast, host Michelle Clement and guest Ray Blake delve into the complexities of onboarding a corporate client within the framework of anti-money laundering (AML) compliance. They explore the critical distinctions between identifying and verifying corporate clients, the role of Special Purpose Vehicles (SPVs), and the importance of understanding ownership structures. The conversation highlights the red flags associated with SPVs, the limitations of relying solely on Companies House for verification, and the regulatory requirements for directors.

The episode concludes with practical advice for firms navigating due diligence processes, emphasising the need for thorough documentation and understanding of the regulatory landscape.

In this episode of The AML Clinic Podcast, Michelle Clement speaks with Christian Hunt, author of Human Risk, about why compliance failures in law firms are rarely caused by bad individuals and are more often the result of poorly designed systems.

They explore how behavioural science can improve AML and compliance outcomes, why traditional approaches like policies and training often fail, and how firms can better engage legal professionals in day-to-day compliance decision-making.

A practical conversation for AML, compliance and risk professionals working in or with law firms.

In this episode of the AML Clinic podcast, host Michelle Clement interviews Luke Haddon, the money laundering reporting officer at Keystone Law. They discuss Luke's career path, the proposed changes to the UK's money laundering regulations, and the implications of these changes for law firms. Luke expresses concerns about the introduction of pooled client accounts and emphasizes the importance of a risk-based approach to compliance. He also highlights the need for a collaborative culture between compliance teams and legal practitioners to ensure effective compliance and protect clients' interests.