Last week’s Compliance for Law Firms session saw Elizabeth Hyde of Hesper GRC discussing how the use of psychology, in particular psychological safety, can help and support risk and compliance functions by encouraging a ‘speaking up’ culture within an organisation. Whilst also focusing on how psychological safety fosters an environment of creativity, innovation and growth.… Continue reading How the use of psychological safety support risk and compliance functions
Author: Kate Burt
Chinese Money Launderers Partner with Mexican Drug Cartels
Chinese money launderers are facilitating the fentanyl epidemic and helping international drug traffickers, like Mexican cartels and the Italian mafia, launder the proceeds of crime. The Financial Times investigated the connection between capital flight from China and global organised crime and released a film exposing the issue on 21st June 2024. This article distills the… Continue reading Chinese Money Launderers Partner with Mexican Drug Cartels
PII renewals
The latest session of Compliance for Law Firms featured a discussion around maximising the effectiveness of PII proposal submissions and and strategies to best present your firm’s approach to risk. The following is a brief summary of some of the areas explored. Preparing to submit a PII renewal form The session began with some general… Continue reading PII renewals
SRA AML Visits, a change in approach?
This week’s Compliance for Law Firms session saw HiveRisk’s Gavin Ball and Kate Burt take the digital centre stage to tee-up the discussion area of SRA AML visits, specifically, how the approach seems to have changed since the warning shots fired at the COLP COFA Conference in October last year. The closed discussion forum comprised… Continue reading SRA AML Visits, a change in approach?
Fraud Du Jour and the Fraud Triangle
You’re probably already familiar with the law firm employee convicted in April and sentenced to 4 years in prison after siphoning charity donations over a 13 year period. Effected beneficiaries included Cancer Research, Great Ormond Street, local hospices along with various animal charities. Laurna Porter, along with her accomplice, Julie Atkins, abused her position as… Continue reading Fraud Du Jour and the Fraud Triangle
Navigating Crypto Due Diligence in Conveyancing
BOARDROOM CONVERSATION As the landscape of finance continues to evolve, the emergence of cryptocurrencies has brought about both excitement and apprehension among professionals in the legal sector, particularly those involved in conveyancing. In a recent webinar, HiveRisk delved into the intricacies of client due diligence (CDD) concerning cryptoassets with a focus on conveyancing firms in the UK. … Continue reading Navigating Crypto Due Diligence in Conveyancing
Is this overkill? Sanctions checks on clients and counter parties
It’s no secret that the SRA is taking an active interest in how firms are approaching their management of the sanctions regime.
A snapshot of a COLP’s day, week, month and year
There’s a lot that goes into running a tight compliance ship in a law firm.
New-style scam alert warning
Individuals are contacting law firms alleging to be from the SRA and asking to attend their offices for a “pre audit meeting.”
Facing the regulators: preparing your law firm for SRA visits
When the SRA selects your law firm for a review, it’s essential to understand the process and be prepared.