Another five firms have been fined for AML breaches, which follows on the heels of six that were recently fined £800 each with £600 costs; it is of note that two of these firms held the CQS accreditation and another two held the Lexcel accreditation; I hope they notified the Law Society in line with the Scheme Rules (it will be interesting to see what, if any, impact breaches in this key compliance area has on their accreditations).
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