New video: Preventing money laundering in your legal practice

Lawyers may be at risk of being targeted by money launderers due to their roles in forming corporations and trusts, in dealing with real estate transactions, and in operating trust accounts.

These areas of legal services are used every day for legitimate transactions, which is why lawyers must be vigilant to ensure that they are not used by sophisticated criminals looking to filter funds through transactions that make it appear as though the funds came from legitimate activities.

Money laundering is the process used to disguise the source of money or assets derived from criminal activity. It makes “dirty” money “clean” so it appears to have come from a legitimate source.

Our rules require lawyers to withdraw from providing services involving any dishonesty, crime or fraud — including money laundering — committed by clients or anyone else.

In part one of our new two-part video series, learn how lawyers are at risk and how to protect yourself and your practice.