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With financial transactions taking place digitally and instantly across the globe, there has been an increasing need for robust anti money laundering (AML) measures to help combat financial crime and identity fraud, with a growing legal obligation on the Legal and Property sectors to carry out a high level of due diligence on their clients.

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Another five firms have been fined for AML breaches, which follows on the heels of six that were recently fined £800 each with £600 costs; it is of note that two of these firms held the CQS accreditation and another two held the Lexcel accreditation; I hope they notified the Law Society in line with the Scheme Rules.
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