Sarah Kebbell - Anti-Money Laundering Compliance and the Legal Profession

Kebbell has produced an extremely well written and carefully researched monograph, which provides a unique and fascinating commentary on the relationship between the legal profession and anti-money laundering. Each chapter is well argued, comprehensively leading the reader towards an intriguing set of conclusions and recommendations.

Professor Nicholas Ryder, University of the West of England.

Anti-Money Laundering Compliance and the Legal Profession

Money laundering is a global issue and there is evidence that the services provided by the legal profession may be misused to launder the proceeds of crime. This book explores the experiences of professionals within Top 50 law firms when seeking to comply with the UKs anti-money laundering (AML) regime.

The book draws upon empirical evidence from 40 in-depth interviews with solicitors and compliance personnel from 20 Top 50 law firms. Access to this section of the legal profession is challenging in the context of academic research, and the research provides an account, seldom heard in academic literature, directly from practitioners. The book uses these research findings to explore and discuss the AML compliance issues faced by this section of the profession. It highlights the challenges presented by the legislative architecture of the Proceeds of Crime Act 2002, and considers compliance issues relating to customer due diligence, AML training, the client account and the suspicious activity reporting regime. It also considers participants perceptions of the regime, their role within it, and their own assessment of money laundering risk. It concludes by using this evidence to recommend amendments to current AML policy and legislation.

This book will be of interest to students and researchers studying Financial Crime Law, Business and Company Law, and White Collar Crime, as well as policy makers in the areas of money laundering, compliance, and corruption.

Sarah Kebbell is a Lecturer in Law at the University of Liverpool and is a Member of the Law Society Money Laundering Task Force. Previously she worked as a practising solicitor.

The Law of Financial Crime

Series Editor: Nicholas Ryder

Available titles in this series include:

Financial Crime and Corporate Misconduct
A Critical Evaluation of Fraud Legislation
Edited by Chris Monaghan and Nicola Monaghan

Corporate Liability for Insider Trading
Juliette Overland

Corruption in the Global Era
Causes, Sources and Forms of Manifestation
Lorenzo Pasculli and Nicholas Ryder

Counter-Terrorist Financing Law and Policy
An analysis of Turkey
Burke Uur Baaranel and Umut Turksen

Integrity and Corruption and The Law
Global Regulatory Challenges
Edited by Nicholas Ryder and Lorenzo Pasculli

Regulating and Combating Money Laundering and Terrorist Financing
The Law in Emerging Economies
Nkechikwu Valerie Azinge-Egbiri

Combating Corruption in the Middle East
A Socio-Legal Study of Kuwait
Khaled S. Al-Rashidi

Anti-Money Laundering Compliance and the Legal Profession
Sarah Kebbell

For more information about this series, please visit: www.routledge.com/The-Law-of-Financial-Crime/book-series/FINCRIME

Anti-Money Laundering Compliance and the Legal Profession

Sarah Kebbell

First published 2022
by Routledge
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN

and by Routledge
605 Third Avenue, New York, NY 10158

Routledge is an imprint of the Taylor & Francis Group, an informa business

2022 Sarah Kebbell

The right of Sarah Kebbell to be identified as author of this work has been asserted by her in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988.

All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers.

Trademark notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe.

British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library

Library of Congress Cataloging-in-Publication Data
Names: Kebbell, Sarah, author.
Title: Anti-money laundering compliance and the legal profession / Sarah Kebbell.
Description: Abingdon, Oxon; New York, NY: Routledge, 2022. |
Series: The law of financial crime | Based on author's thesis (doctoral - University of Liverpool, 2017) issued under title: Anti-money laundering compliance issues in top 50 UK headquartered law firms in England and Wales. | Includes bibliographical references and index.
Identifiers: LCCN 2021028633 (print) | LCCN 2021028634 (ebook) | ISBN 9780367030049 (hardback) | ISBN 9781032148717 (paperback) | ISBN 9780429019906 (ebook)
Subjects: LCSH: Law firmsAccountingLaw and legislationEngland. | Money launderingLaw and legislationGret Britain.
Classification: LCC KD495.A3 K43 2022 (print) | LCC KD495.A3 (ebook) | DDC 346.41/0664dc23
LC record available at https://lccn.loc.gov/2021028633
LC ebook record available at https://lccn.loc.gov/2021028634

ISBN: 978-0-367-03004-9 (hbk)
ISBN: 978-1-032-14871-7 (pbk)
ISBN: 978-0-429-01990-6 (ebk)

DOI: 10.4324/9780429019906

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