Webinar – Side-stepping the trapdoors of client onboarding Part 3 of 3 – Cryptoassets – how to approach CDD with a focus on client and matter risk assessment

18/01/2024 2:00 pm
Kate Burt, Gavin Ball & Tony Brown - HiveRisk

Join us for the final session of a three part series where we will be joined by law firm compliance experts, HiveRisk, to shine a light on common issues that befall residential conveyancers when onboarding clients.
The Financial Conduct Authority estimated that some 2.3 million people in the UK hold cryptoassets, a 400,000 rise from the previous year. It is especially important for conveyancers to ensure that efforts are made to identify the source of cryptoassets as part of CDD and undertake the relevant client and matter risk assessments given the prominence of the money laundering risk associated with cryptoassets in the National Risk Assessment and by the Financial Action Task Force.

The SRA’s warning of risk assessments, published 18 October 2023, is also cause for firms to take their approach seriously.

This session will focus on:

  • Where Cryptoassets may show up in your work as a conveyancer
  • A basic and practical guide to Crypto and Virtual Assets
  • What the Legal Sector Regulators are saying about Crypto
  • How to approach CDD and Client and Matter Risk Assessment
  • How to conduct accurate and relevant source of funds enquiries
  • AML reporting, making both internal and external disclosures
  • The technology available to assist you with the above checks and how this can help