Scotland Applies Anti-Money Laundering Law to All Solicitors

The Law Society of Scotland, in promulgating its anti-money laundering regulations, has applied the due diligence and suspicious transaction requirements to solicitors whether or not they handle investment business within the meaning of the Drug Trafficking Offenses Act 1986. As a result all solicitors in Scotland must comply with know-your-client and reporting suspicious transactions or be subject themselves to criminal sanctions…(more)