Mr Tang acted for a company in the purchase of three flats. The tribunal found that the transaction raised a number of ‘red flags’ indicating possible money laundering that Mr Tang had not addressed, including: A deposit into the firm’s client account from an unconnected third party A large sum of money being held following […]

Two partners at a high street firm were sanctioned for multiple accounts rule breaches. In addition, Mr Grimes was found to have breached the Money Laundering Regulations 2007 as the due diligence checks he conducted on a company, its beneficial owner and source of funds were inadequate. Mr Grimes was held to have acted with […]

One of the allegations against Ms Bellis was that she failed to maintain proper identification procedures in relation to investors in a scheme, contrary to Regulation 4 of the Money Laundering Regulations 2003. Read the judgment Click HERE to see the full Disciplinary digest December 2017.

The allegations against Mr Mugdaza included recklessly facilitating five conveyancing transactions that bore the hallmarks of mortgage fraud and failing to comply with or ensure compliance with the Money Laundering Regulations 2007 in respect of at least one of the conveyancing transactions that bore the hallmarks of mortgage fraud. The respondent admitted the allegation in […]

While most solicitors endeavour to comply with their anti-money laundering (AML) obligations and avoid being used as a conduit for offences such as mortgage fraud, there are some whose conduct falls significantly below expected standards. The disciplinary digest covers Solicitors Disciplinary Tribunal (SDT) cases where AML compliance failings or involvement in mortgage fraud have been […]