Client Due Diligence for Law Firms video
The matter's scope decides the rulebook, the ownership tree is traced to the people behind the client, and every check is cited for the inspector. 1:18
What the film shows
Identifies and verifies each client and owner under AML rules and risk-rates the matter
Agents decide whether the matter is in scope and which rulebook applies, build its checklist, trace the ownership tree through companies and trusts to the people behind the client, read every document, screen every name and draft the risk assessment and the enhanced due diligence requests. The intake analyst clears matches, the money laundering reporting officer approves, and the fee earner sends.
Transcript
- Client Due Diligence for Law Firms verifies every client and owner, and rates the risk.
- One regulator review found a law firm file in five with no risk assessment.
- Corviston is buying an 18.5 million pound London office, so the rules apply.
- The checklist comes from that rulebook, filled from the documents, every value cited.
- Every name is screened; two sanctions matches are cleared, each with its reason.
- Then a Jersey trust, two layers down, resolves to a politically exposed beneficiary.
- The rating turns high, fifty-two to seventy-one, and enhanced due diligence begins.
- The source-of-funds request goes to Ciaran, pending the reporting officer's approval.
- Morwenna approves with her reason; the file is a cited record an inspector will accept.
- Built on Botminds: agents, data, screens and governance on one platform.
The narration as written for the film. Captions are on the player.