{"id":414,"date":"2024-01-21T08:35:08","date_gmt":"2024-01-21T08:35:08","guid":{"rendered":"https:\/\/probatescam.com\/?p=414"},"modified":"2024-01-21T08:35:08","modified_gmt":"2024-01-21T08:35:08","slug":"law-firm-clyde-and-co-fined-for-breaching-uk-money-laundering-rules-again","status":"publish","type":"post","link":"https:\/\/probatescam.com\/index.php\/2024\/01\/21\/law-firm-clyde-and-co-fined-for-breaching-uk-money-laundering-rules-again\/","title":{"rendered":"Law firm Clyde & Co fined for breaching UK money laundering rules again."},"content":{"rendered":"
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Law firm Clyde & Co fined for breaching UK money laundering rules again.<\/h1>\n
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By\u00a0<\/span>Sam Tobin<\/a><\/div>\n

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LONDON, Jan 11 (Reuters) – Global law firm Clyde & Co was fined 500,000 pounds on Thursday for multiple breaches of money laundering regulations relating to a long-standing client.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/header>\n
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The London-founded firm admitted it failed to conduct adequate due diligence on a shipping industry client \u2013 identified only as Company A \u2013 in relation to 14 transactions between 2014 and 2018.<\/div>\n
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Clyde & Co said in a statement that it “sincerely regrets any compliance failings”, which it said it identified in 2018 and reported to the Solicitors Regulation Authority (SRA).<\/div>\n
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ALTHOUGH THEY STILL DENY DOING THE SAME IN A PROBATE FRAUD CASE FOR 32 HOOLE ROAD CHESTER THATS INCREASED IN VALUE BY 385% IN 18 MONTHS AND OVER 140% over the local area property growth.<\/strong><\/div>\n
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Property PRICE FIXING that is very hard to defend against but they try every day using Kennedys law firm.<\/strong><\/em><\/div>\n<\/div>\n<\/blockquote>\n<\/div>\n<\/div>\n
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Do they sound like they are a trustworthy and honest company a little guy can trust?<\/strong><\/div>\n<\/blockquote>\n
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A spokesperson added that the firm has since “significantly enhanced our risk management and regulatory compliance capabilities”.<\/div>\n
Clyde & Co’s 500,000-pound fine equals the previous record SRA fine imposed on Dallas-based law firm Locke Lord in 2017.<\/div>\n
SRA Chief Executive Paul Philip said the fine “should be a wake-up call to any firms that are not meeting their responsibilities to have robust (anti-money laundering) processes in place”.<\/div>\n
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The SRA announced in August that it was referring Clyde & Co and Ed Mills-Webb, formerly chair of the firm’s marine global practice group, to an independent tribunal for failing to comply with British money laundering regulations.<\/div>\n<\/div>\n<\/div>\n
Clyde & Co and Mills-Webb initially contested the allegations, and the case was due to be heard at the Solicitors Disciplinary Tribunal in London over two weeks beginning on Monday.<\/div>\n
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However, the SRA’s lawyers told the tribunal this week that Clyde & Co and Mills-Webb last month admitted breaches of money laundering regulations.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Clyde & Co’s lawyer Ben Hubble said in written arguments that the firm’s misconduct was inadvertent and caused no harm to clients or third parties.<\/div>\n
Mills-Webb, now a consultant at boutique shipping firm Preston Turnbull, admitted contributing to Clyde & Co’s failure to carry out adequate due diligence. He was fined 11,900 pounds.<\/div>\n
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Clyde & Co was previously fined 50,000 pounds in 2017 for breaching money laundering and accounting rules in 2013.<\/div>\n
The law firm’s lawyers told the tribunal this week that Clyde & Co had improved its internal processes after those events, but before Company A became a client.<\/div>\n<\/div>\n<\/div>\n
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Original story source REUTURES.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Law firm Clyde & Co fined for breaching UK money laundering rules again. By\u00a0Sam Tobin January 11, 20247:22 PM GMT Updated 10 days ago LONDON, Jan 11 (Reuters) – Global law firm Clyde & Co was fined 500,000 pounds on Thursday for multiple breaches of money laundering regulations relating to a long-standing client. The London-founded…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,1],"tags":[181],"class_list":["post-414","post","type-post","status-publish","format-standard","hentry","category-how-to-spot-a-probate-scam","category-probate-scams","tag-law-firm-clyde-co-fined-for-breaching-uk-money-laundering-rules-again"],"yoast_head":"\nLaw firm Clyde & Co fined for breaching UK money laundering rules again. - Probate Scam | Probate Fraud | Probate Law Scams Step By Step.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/probatescam.com\/index.php\/2024\/01\/21\/law-firm-clyde-and-co-fined-for-breaching-uk-money-laundering-rules-again\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Law firm Clyde & Co fined for breaching UK money laundering rules again. - Probate Scam | Probate Fraud | Probate Law Scams Step By Step.\" \/>\n<meta property=\"og:description\" content=\"Law firm Clyde & Co fined for breaching UK money laundering rules again. By\u00a0Sam Tobin January 11, 20247:22 PM GMT Updated 10 days ago LONDON, Jan 11 (Reuters) – Global law firm Clyde & Co was fined 500,000 pounds on Thursday for multiple breaches of money laundering regulations relating to a long-standing client. 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By\u00a0Sam Tobin January 11, 20247:22 PM GMT Updated 10 days ago LONDON, Jan 11 (Reuters) – Global law firm Clyde & Co was fined 500,000 pounds on Thursday for multiple breaches of money laundering regulations relating to a long-standing client. 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