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City of London lawyers reminded of anti-money laundering duties with new stunt
10 October, 2023
Reverse graffiti has sprung up across central London to offer lawyers a helping hand with anti-money laundering (AML) procedures. Created by First AML, the global anti–money laundering scaleup, the stunt focuses on law firms that prioritise manual, outdated AML processes that put their firms at risk of fines and reputational damage.
The messages were posted near Bank, Fleet Street, Liverpool St and other central London locations, including outside the Salesforce Tower, Arthur Cox London, and Osborne Clarke. With the Treasury currently reviewing the UK’s AML/CFT regulatory and supervisory regime, it’s critical that legal professionals are supported in the city and beyond.
Simon Luke, UK Country Manager at First AML, commented: “Law firms of all sizes undertake anti-money laundering procedures every day. However, many are still using manual, inefficient processes when it comes to onboarding clients. Criminals are continuing to become increasingly sophisticated in the way they launder money, and unless law firms are embracing the most robust technologies to tackle this, then they are opening up their firm to fines. It’s time to take AML seriously.”
The news comes alongside the launch of Source, First AML’s new offering designed to revolutionise anti-money laundering workflows for compliance professionals and teams. The new platform offers an unrivalled choice for organisations with complex or multinational onboarding requirements, delivering streamlined collaboration and ensuring AML consistency.
About First AML
First AML simplifies the entire anti-money laundering onboarding and compliance process. Its SaaS platform, Source, stands out as a leading solution for organisations with complex or international onboarding needs. It provides streamlined collaboration and ensures uniformity in all AML practices.
First AML transforms an otherwise complex and manual process into one that is simple, cost-effective, and compliant for businesses. By delivering efficiency and time savings, it protects reputations and enables companies to stay on the right side of history in the face of global threats.
Keen to find out more? Book a demo today! No time for a long demo? No problem. See what Source by First AML can do for your business in 2 minutes – watch the short demo here.