The report is published on the Solictors website.
Last year, we increased funding for anti-money laundering measures. 177 firms were inspected and 73 desk audits were carried out.
Enforcement actions were brought against 47 firms and individuals. £137,402 in fines paid, one person suspended and one person subject to pre-employment monitoring. And 23 companies were checked for compliance with sanctions measures.
The watchdog calls on all companies to ensure that appropriate resources are allocated to preventing money laundering and developing a culture in which everyone takes this important risk seriously.