Jonathan Bennett of Credas discusses best practices for transitioning to fully digital onboarding. In his short guide Bennett highlights digital tools for AML and CDD, from ID verification to source of funds checks, and offers advice on evaluating solutions, engaging stakeholders, and ensuring a seamless transition to a more efficient and compliant digital-first approach.
Jonathan Bennett of Credas discusses best practices for transitioning to fully digital onboarding. In his short guide Bennett highlights digital tools for AML and CDD, from ID verification to source of funds checks, and offers advice on evaluating solutions, engaging stakeholders, and ensuring a seamless transition to a more efficient and compliant digital-first approach.
Read about the highlights from a recent webinar hosted by Credas in collaboration with Chronicle Law and Arête. Explore trends in legal compliance and onboarding strategies for law firms in 2025 with a focus on innovative practices to meet regulatory requirements.
This article is a taster from our legal supplier Credas of their upcoming webinar in January, you will discover the key compliance and onboarding challenges shaping the legal sector in 2025. From stricter AML regulations to AI-driven ID fraud, explore strategies to stay ahead in this evolving landscape.
Anti-money laundering for law firms has always been a concern, what is “enough” information on a client to determine they’re legitimate, and their money is legal? But over the past few years there has been a growing concern within the industry as a whole, specifically pushed by the SRA and Law Society that enough simply isn’t being done. Take for example the story of Mishcon de Reya being fined for AML compliance breaches. They were smacked with a fine of £232,500 which highlights the reinvigorated push for better AML compliance and AML checks within law firms.
With the need for more stringent anti-money laundering checks in the legal sector, we have put together a list of some top tips on how to help you combat money-laundering.
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