AML Compliance Software

Anti-money laundering (AML) software helps law firms to manage their money laundering risk, keeping track of risk assessments and suspicions and ensuring the appropriate processes have been followed, making AML compliance simpler to manage.  

Using a good AML software solution, like the one offered by Access Legal Compliance, means your law firm can stay one-step ahead of its AML obligations with ease, and ensure everyone in the team is trained up to guarantee optimum compliance throughout your firm.  

What are the AML regulations and requirements for law firms? 

There are a number of regulations that apply to and place obligations on law firms, including the Money Laundering Regulations and the Proceeds of Crime Act.  

As a sector at a particularly high risk, there are lots of requirements for firms that fall within their scope, including: 

• Completing a practice-wide risk assessment (PWRA) 
• Having extensive policies, controls and procedures (PCPs) in place 
• Ensuring all relevant staff are appropriately trained with regards to money laundering 
• Complete a risk assessment on all clients and matters 
• Conduct appropriate due diligence on clients 
• Reporting suspicions to the NCA 

To find out more about your obligations and how to meet them, take a look at our Guide to AML for Law Firms. 

At Access Legal, our AML training includes: 

• Anti-Money Laundering for Law Firms 
• Anti-Money Laundering for Support Staff in Law Firms 
• PEPs and Sanctions 
• Dealing with SARs 
• How to be an MLRO/MLCO 

This content comes as a package with lots of other online training courses designed specifically for law firms and the different roles within their firm. So our bite-sized training is always relevant to the learner, practical and helps you to meet your obligations.

The Money Laundering and Terrorist Financing (Amendment) Regulations 2026 (SI 2026/621) are not a wholesale replacement of the MLR 2017. The targeted changes they introduce require every regulated law firm to review its policies, procedures, and risk assessments now. 

The Law Society and SRA have confirmed that firms should review their policies, controls and procedures, risk assessments, and training against the updated requirements.  

• Sterling thresholds. Most euro-denominated thresholds have been converted to sterling equivalents, largely on a 1:1 basis. A handful have been recalibrated rather than converted, so firms should verify each threshold individually rather than assuming a direct currency swap. 
• Narrowed EDD trigger. Enhanced due diligence is now triggered only where a transaction is "unusually complex or unusually large given the nature of the transaction." Firms can no longer apply EDD as a blanket measure so the assessment must be specific to the transaction type and context. 
• FATF call for action countries. Mandatory EDD for high-risk third countries now applies only to jurisdictions on the FATF call for action list. Firms must still take FATF mutual evaluations into account as a geographical risk factor and apply EDD where they identify a high risk of money laundering or terrorist financing. 
• Pooled client account AML obligations. The regulations now frame record keeping around pooled client funds as an AML obligation. Firms must assess the money laundering risk associated with each pooled client account, take reasonable steps to manage and mitigate those risks, and maintain written records available on request. 
• FCA supervision transition. The government has confirmed that the FCA will become the single AML/CTF supervisor for professional services, replacing the SRA. A transition timeline has not yet been set but the direction is clear. Firms that build FCA-ready compliance documentation now will be better placed when the change lands. 

Yes. The Law Society and SRA have confirmed that firms should review their policies, controls and procedures, risk assessments, and training to reflect the updated requirements.