AML/CFT Principles Under The 2023 Rules Of Professional Conduct: Walking The Fine Lines Between Confidentiality And Regulatory Compliance
The Rules of Professional Conduct for Legal Practitioners 2023 was made on the 6th of June 2023 to provide ethical standards for members of the legal profession in the nation and Chapter Two of the new Rules made provisions to address money laundering, terrorism financing and proliferation financing in lawyer-client relationships and the provision of legal services.
The inclusion of these provisions is necessitated by the growing risks encountered in the financial sector and the prospect of using independent legal practitioners for the perpetuation of financial crimes, having regards to the fact that they often deal with client moneys.
The Money Laundering (Prohibition and Prevention) MLPP Act 2022 included Legal Practitioners in the categories of persons under the Designated Non-Financial Businesses and Professions (DNFBPs) that are saddled with AML/CFT obligations.
It is against this background that the new Rules of Professional Conduct for Legal Practitioners (RPC) was passed in 2023.
As such, this webinar aims to examine the provisions of the new rules in line with the global standards set out in the Financial Action Task Force Recommendations 2023 to address risks associated with the Legal Profession.
Date: Friday, 22nd March 2024
Time: 11 am
