Addressing Law Society Concerns: How Denovo Helps Law Firms Ensure AML Certificate Data Accuracy
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Anti-Money Laundering (AML) compliance is a critical responsibility for law firms, especially in the face of growing scrutiny from regulatory bodies. Recently, the Law Society of Scotland’s AML subcommittee raised serious concerns about the accuracy and quality of data submitted as part of the AML certificate process. More than 70 firms – around 10% of supervised practices – submitted incorrect information, ranging from duplicate and conflicting figures to a failure to provide required jurisdictional details for non-UK work. The Law Society’s AML team has warned that if these errors persist, firms risk facing disciplinary action.
Given the complexity and volume of data required for AML compliance, these concerns are valid. Many firms struggle to manage customer due diligence, record-keeping, and risk management without robust systems in place. This is where legal practice management software like Denovo’s CaseLoad system can be a game-changer, helping firms avoid errors and ensuring that all AML obligations are met efficiently.
At Denovo, we understand these challenges and have worked with hundreds of law firms to create solutions that protect them from both legal and reputational risks. One of the standout tools within CaseLoad is the AML Risk Assessment feature—a comprehensive digital solution designed to streamline AML processes and reduce the risk of errors.
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