Anti-money laundering (AML) refers to the laws, regulations and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income. The AML landscape in the Scottish legal sector is evolving and coming into ever more focus, with an increased awareness of the number of ways in which the legitimate services provided by legal firms can be used for an illegitimate purpose.

In response to this increased risk, MacRoberts has appointed an expert AML team to support its lawyers in their client work. Headed by ex-Law Society of Scotland AML specialist Fraser Sinclair, the team’s purpose is to ensure controls and processes allow for a smooth and efficient client on-boarding experience whilst complying with AML laws and regulations and best practice.

Neil Kennedy, Managing Partner, said:

“We embarked on a considerable operational strategic review three years ago. This ongoing review has led us to obtaining four ISO accreditations in the areas of Information Security, Business Continuity, Quality Management and Environmental Management. The addition of a dedicated AML team, which complements our existing Risk & Compliance team led by Phil McCrossan, is a further demonstration of our commitment to effective risk management and service excellence for our clients.”

Fraser Sinclair, Head of AML, said:

“National AML risk assessments continue to highlight the legal profession as at higher risk of being targeted by money launderers. I am delighted to be leading the team that will support our lawyers in mitigating the risk to MacRoberts, while improving the client experience”.