One in five UK law firms is failing to maintain adequate systems to prevent money laundering, according to the industry watchdog, amid government warnings that solicitors are being targeted by fraudsters.
The Solicitors Regulation Authority contacted 400 law firms to check they were complying with 2017 anti-money laundering rules, but found 21 per cent were not.
The findings come as fears mount over an increase in dirty money entering the UK and a lack of reporting of suspicious activity by lawyers and accountants.
