The SRA has begun distributing an AML & Sanctions Questionnaire form which must be submitted through your MySRA profile by 23rd September 2024.
The questions are identical to those outlined in the warning email sent by the SRA on 2nd July 2024.
You may view a copy of the email received by one of our law firm clients here: SRA Email regarding AML Sanctions Questionnaire – August 2024.
To view the AML & Sanctions Questionnaire in particular, please visit: AML Data Collection 2024 Questionnaire.
It is highly advisable to check your own email for the form as questions may be tailored to the nature of your firm.
All firms are required to complete the Sanctions section while only certain firms must complete the AML section.
This is because all firms must comply to the Sanctions Regime, no matter the work they carry out.
This may come as a surprise to firms not fully up to date with understanding of sanctions and how to remain compliant.
We are experiencing numerous firms that have not incorporated Sanctions in their Firm-Wide Risk Assessments, for instance.
For further guidance, visit the SRA’s advice page: SRA Advice on Firm Anti-Money Laundering and Sanctions Data Requirements.
In case you need guidance on completing the questionnaire, contact us for our relevant services.
We are able to offer:
- Guidance on completing the SRA AML & Sanctions Questionnaire
- Training on AML & Sanctions
- An updated AML/CFT & Sanctions Manual