In a white paper we’ll publish this spring, we’ll share the findings from our survey of over 30 law firms on their experiences with and approaches to anti-money-laundering (AML), know-your-client (KYC), and customer due diligence (CDD) compliance. Here are just a few of the results from the survey:
- 65% of firms have been subject to a regulatory visit or inquiry in the past five years, demonstrating increasing regulatory oversight.
- 68% of firms have undergone third-party reviews from insurers, auditors, or other external entities.
- Firms managing AML compliance across multiple jurisdictions balance a standard baseline policy with regional/jurisdictional variations.
Our white paper will also share:
- The processes and team(s) firms have in place to help manage AML/KYC compliance
- What software solutions and third-party data providers firms rely on or plan to implement for AML/KYC/CDD compliance
- Whether firms operating in unregulated jurisdictions conduct some level of due diligence checking
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