This is where your customer due diligence (CDD) comes into play. As stated in the Legal Sector Affinity Group (LSAG) anti-money laundering (AML) guidance for the legal sector: “CDD is the collective term for the checks you must do on your clients, which may differ depending on the circumstances. It is holistic in nature and is wider than ...
2. Use standardised templates. Doing this for common cases eliminates reinventing the wheel every time you take in a new client. 3. Make sure your staff know your firm’s policies. You don’t want the client to have any unpleasant surprises down the road or put yourself at risk of malpractice claims.
Client care letters. You can provide an initial letter to the client, called a client care letter. This is not a requirement but clients may find it helpful to have some information written down, and it can help to avoid complaints or misunderstandings. For more information, see our practice note on client information requirements.
Your client care letter could include information on proof of source of funds, such as: “Under the Money Laundering Regulations 2017 and Proceeds of Crime Act 2022, all solicitors are under a statutory and regulatory duty to satisfy themselves about the source of funds in a transaction.
Handling of first-tier complaints is governed by the LSB’s requirements under section 112 (2) of the Legal Services Act (LSA) 2007 and guidance on first-tier complaints handling. LSB research published in August 2023 made recommendations for improving complaints handling, including a focus on managing expectations and continuous improvement.
Banks can request some information. It is a pre-condition to the application of simplified due diligence to pooled client accounts (PCA) that information on the identity of the persons on whose behalf money is held shall be available to the bank on request (see regulation 37 (5) (b) of the Money Laundering Regulations 2017, MLRs 2017).
We recognise that pressuring solicitors with unreasonable time limits is not a widespread practice and that most of the insurance industry demonstrates a high level of commitment to customer care. However, we’re concerned that some market participants may unfairly exploit the pressures associated with the old single renewal date for solicitors’ PII.
if the complaint cannot be resolved, it will be escalated to the customer resolution team manager if still unresolved, the complaint will be reviewed by a senior manager Once CICA’s complaints procedure is exhausted, your client can refer the matter to the Parliamentary and Health Service Ombudsman via their MP if still not satisfied.
Original Posted By sarmidi Dear Customer Care Bank Mandiri. Token Bank Mandiri saya terblokir sementara gara-gara salah memasukan kode di web internet banking dengan kode 8202, mohon sekiranya apa yang bisa saya lakukan untuk unblocking kembali token mandiri saya untuk bertransaksi kembali mengingat saya belum bisa pulang ke Indonesia dalam waktu dekat.
However, the SRA investigated 252 reports of suspected breaches of the regulations and cases of suspected money laundering. It found: 49 failures to carry out or complete initial customer due diligence (CDD) 40 failures to carry out a money laundering risk assessment. 39 failures to carry out a source of funds check.