Law Society says government’s AML plans risk ‘increased burden’ for solicitors
Summary
The Law Society of England and Wales has welcomed the government’s new anti-money laundering and asset recovery strategy, but warned that the reforms could create duplication and a heavier compliance burden for solicitors and firms. The strategy, backed by £550 million, aims to strengthen the UK’s defences against money laundering and recover more criminal assets, including funds linked to real estate.
Why it matters
Residential property surveyors should note the continued policy focus on money laundering in property-related transactions, especially where real estate is identified as a vehicle for criminal proceeds. Any tightening of AML expectations can affect due diligence processes, transaction timelines and the wider compliance environment around property work.
Key points
- Government has launched an anti-money laundering and asset recovery strategy for 2026–2029.
- The Law Society supports the aim but warns against duplicated or increased compliance obligations.
- The strategy highlights real estate as one of the asset classes used to absorb laundered funds.
- Ministers say the plan is intended to improve effectiveness, recover criminal assets and reduce harm from organised crime.
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