News In Focus
8 November 2007
Money laundering: help at hand
The Society has produced new guidance on the Money Laundering Regulations which come into force on 15 December. The regulations make three key changes: (1) a move to a risk-based approach; (2) a greater importance on identifying "beneficial ownership"; and (3) a greater onus on firms to ascertain the exact source and nature of funds.
The guidance can be viewed at www.lawscot.org.uk/Members_Information/moneylaundering
A number of free roadshows are also on offer. Sponsored by Callcredit Direct, they attract 1.5 hours’ CPD. Dates and venues are: 4 December, Law Society of Scotland, Edinburgh; 10 December, Hilton Treetops Hotel, Aberdeen; 11 December, Teacher Building, Glasgow; 13 December, Drumossie Hotel, Inverness. Book through the link at the web page above.