A report by the Solicitors Regulation Authority (SRA) suggests that risks posed to law firms and the public by money laundering, cybercrime and suspect investment schemes have all reached record highs. Data revealed in the SRA’s annual Risk Outlook report shows that criminals are increasingly targeting law firms in order to steal tens of millions from businesses. Statistics include reports of money laundering relating to law firms having risen by two thirds since 2016; losses of £47.4m since 2015 due to possibly dubious investment schemes; and reports of cybercrime up 50% year-on-year, reaching a record high of 157 in 2017.
01 August 2018
Risks to law firms hit record highs
MOVERS & SHAKERS
Jurit LLP—Caroline Williams
Private wealth and tax team welcomes cross-border specialist as consultant
Freeths—Michelle Kirkland Elias
International hospitality and leisure specialist joins corporate team as partner
Flint Bishop—Deborah Niven
Firm appoints head of intellectual property to drive northern growth
NEWS
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After Woodcock confirmed no general duty to warn, debate turns to the criminal law. Writing in NLJ this week, Charles Davey of The Barrister Group urges revival of misprision or a modern equivalent
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