The firm is set to defend its case before the UK Solicitors Disciplinary Tribunal
Dentons has been accused of violating anti-money laundering (AML) regulations in a case set to go before the UK Solicitors Disciplinary Tribunal, reported the Law Society Gazette.
The firm allegedly failed to conduct an adequate check on a client’s source of wealth when it represented a “politically exposed person or his associated entities” from May 2013 to June 2017, as per a notice published by the UK’s Solicitors Regulation Authority (SRA). The tribunal certified the validity of the case brought against Dentons.
In particular, the firm was accused of violating the Money Laundering Regulations 2007 with respect to compliance with legal and regulatory obligations, effective operation of the business in line with “proper governance and sound financial and risk management principles” and compliance with AML legislation, the Gazette indicated.
The conduct, according to the allegations, broke the public’s trust in Dentons and its legal services.
Dentons confirmed in a statement that had “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”, the firm said.
The tribunal is set to hold a hearing later in the year.
