We’re thrilled to be collaborating with Kim Rawlings-Smith, Zain Maqsood of Arête and the team at Chronicle Law on an insightful webinar that will address the latest compliance and onboarding trends that are set to shape the legal industry in 2025.
As we approach 2025, the legal sector faces increasing regulatory scrutiny, particularly in compliance and onboarding practices. In 2024, record fines were issued for compliance breaches, with regulators signalling a much stricter regime ahead.
According to the latest SRA report, while compliance levels have improved year-on-year, less than a quarter of firms are fully compliant. Law firms, especially in the property sector, must prioritise meeting AML obligations or risk significant financial penalties as well as reputational damage.
So what does the regulatory landscape look like heading into 2025?
As compliance levels increase, criminals in response are finding more and more complex methods to try an avoid detection. Some of the key factors that law firms should consider is the rising risk of AI and ID verification. Modern AI powered tools are allowing criminals to easily create highly convincing ID documents which can easily convince the human eye.
Source of Funds and Source of Wealth remain a critical focus for regulators such as the SRA and CLC, particularly in property transactions. Despite their importance, SoF and SoW checks are often complex and misunderstood. Modern compliance tools can simplify these processes by automatically analysing data and flagging high-risk factors.
Key speakers
Hosted in partnership with Chronicle Law and compliance experts Arête, this session will offer practical guidance grounded in real-life examples of high-risk transactions.
Key Speakers:
• Rhian Del-Valle, Director of Enterprise Partnerships, Credas
• Kim Rawlings-Smith, Director, Arête
• Zain Maqsood, Associate Director, Arête
About Arete
Arête provides specialised compliance solutions tailored to the unique needs of law firms, ensuring they meet regulatory standards seamlessly while minimising risk and maximising operational efficiency
