Our latest update webinar focused on recent anti-money laundering (AML) developments, an update from the Solicitors Regulation Authority (SRA), and some of the key AML questions answered by the SRA on its website.
- Topic:
- Legal
Security Information and Event Management (SIEM) and Security Operation Centres (SOC) are vital components of a comprehensive cyber security strategy for law firms. These technologies and services play a crucial role in detecting and responding to cyber threats in real-time, providing proactive protection against potential attacks.
- Topic:
- Legal
As technology continues to evolve, so do the cyber threats faced by law firms. Over the past few years, the legal industry has witnessed a significant surge in cyberattacks, ranging from ransomware and phishing attacks to supply chain vulnerabilities. With the widespread adoption of remote work and cloud-based services, the attack surface for potential threats has expanded, leaving law firms exposed to ever more sophisticated cyber threats. In this article, we will explore the modern IT and cyber security challenges faced by law firms.
- Topic:
- Legal
Legal case management can be complex and confusing for medium-sized law firms. The ever-changing legal landscape and increasing regulatory requirements make it challenging for law firms to manage cases efficiently. Pursuing legal cases without a detailed case management system can lead to missed deadlines, lost documents, and, ultimately, lost cases.
This blog addresses the challenges and offers insights into how medium-sized law firms can navigate legal case management effectively.
- Topic:
- Legal
Though not mentioned specifically, the SRA Codes of Conduct for Firms and for Solicitors, RELs and RFLs set out a number of rules relating to cyber security.
- Topic:
- Legal
As a consequence of the 2008 banking crisis, we saw many conveyancing firms dabbling in other areas of law to try and make up for the dramatic near-immediate loss of income from the property sector.
- Topic:
- Legal
Law firms are entrusted with vast amounts of sensitive information, such as bank accounts and personal details, and have a responsibility to protect it. With cybercrime on the rise and the potential for identity theft increasing, firms need to implement effective measures to safeguard their data and their client's data. Biometric identity checking is an innovative solution that many law firms are turning to as a reliable method of identity verification. Furthermore, it offers a convenience benefit that meets the needs of today's client who expects seamless digital experiences from their service providers.
In this blog post, we'll explore how biometric identity verification works, its benefits and drawbacks, and why it should be considered by law firms.
- Topic:
- Legal
In the administration of estates, law firms encounter the task of verifying beneficiaries who will receive legacies through a will. While standard checks like bankruptcy and sanctions screenings are commonly performed, it is crucial for firms to complete identity checks on beneficiaries. The regulations do not solely place the risk on clients, emphasizing the importance of a comprehensive understanding of the entire matter. This article highlights the significance of beneficiary identification, explores potential risks, and suggests methods for carrying out effective checks.
- Topic:
- Legal
Anti-money laundering (AML) training plays a pivotal role in ensuring compliance within law firms. It is a topic that often raises questions and prompts discussions on how to enhance training effectiveness. This article explores the importance of robust AML training, suggests methods to enrich training programs, emphasizes ongoing learning, and highlights the role of the Compliance Officer for Legal Practice (COLP) in supervising AML compliance.
- Topic:
- Legal
Anti-money laundering (AML) compliance poses unique challenges for law firms providing both transactional and non-transactional services. In a recent discussion, important considerations were raised regarding regulatory obligations, risk assessments, client due diligence, legal professional privilege, and the need for consistency across the entire firm. This article aims to explore these key points and provide insights to help law firms effectively manage AML compliance in various service areas.
- Topic:
- Legal
