Biglaw

Mega Biglaw Firm Faces Tribunal For Violating Anti-Money Laundering Regulations

Dentons says they are cooperating with the investigation.

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Laundering moneyOne of the biggest law firms in the world, Dentons, will have to defends its compliance with money laundering regulations in the United Kingdom in front of a Solicitors Disciplinary Tribunal. The Solicitors Regulation Authority (SRA) announced they are pursuing allegations against the Biglaw firm.

As reported by Roll on Friday:

The tribunal confirmed that “there is a case to answer in respect of allegations” which include the “failure” by Dentons “while acting for a politically exposed person or his associated entities between approximately May 2013 and June 2017, to take adequate measures to establish the client’s source of wealth and/or funds”.

The regulators allege violations of “failing to comply with its legal and regulatory obligations, run the business effectively in accordance with proper governance and sound financial and risk management principles and failed to comply with anti-money laundering legislation.”

A spokesperson for Dentons said, “Dentons has co-operated fully with the SRA throughout this investigation, which relates to a former client, and we will continue to do so. As a Firm we are committed to strict compliance with all laws, regulations and professional standards of the jurisdictions we operate in.”

Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Mastodon @Kathryn1@mastodon.social.

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