We are committed to maintaining the highest standard of legal practice and ethics. As a solicitor firm in Scotland, we are obligated to adhere to Money Laundering Regulations 2007, the Proceeds of Crime Act 2002, the Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017 and other relevant legislation to combat financial crime and ensure the integrity of our legal services.
We have a legal duty to:-
- Customer Due Diligence (CDD): Verify the identity of our clients and, where applicable, beneficial owners before establishing a business relationship or carrying out occasional transactions. Verify the source of funds and source of wealth of our clients. We may use outsourced electronic verification checks to verify the information provided.
- Record Keeping: Maintain comprehensive records of client identification and transaction details. This information is confidential and used solely for compliance purposes.
- Suspicious Activity Reporting: Report any suspicions of money laundering or terrorist financing to the relevant authorities, as required by law.
- Training: Provide regular AML training to our staff to ensure awareness and compliance.
If you have any questions or concerns regarding our AML compliance procedures or your obligations as a client, please do not hesitate to contact us.