20 March 2025
Earlier this year, our very own Jack Constant, Director of Sales, and Claire Johnson, Director of Customer Success, were invited to contribute to the Solicitors Regulation Authority’s (SRA) Thematic Review on Anti-Money Laundering (AML) training.
It was an exciting opportunity to share insights from the field and showcase how The Professional Alternative’s Approach is helping firms enhance their compliance strategies.
The official report has now been published and has revealed some alarming statistics.
Over three-quarters of firms (77 per cent) were found to be either fully compliant (21.5 per cent) or partially compliant (55.5 per cent) with their AML obligations.
However, the remaining 23 per cent fell short, facing significant fines and sanctions as a result.
The chances of being audited are climbing, with 254 inspections and 258 desk-based reviews in the past year alone.
The most common breaches?
These recurring issues highlight the critical need for firms to prioritise robust compliance measures.
It’s clear that compliance failures – particularly in staff training – remain a key area of concern.
So, how can you ensure your firm doesn’t fall into the same traps?
From our perspective, AML training works best when it’s:
The report emphasised the importance of not treating AML training as a tick-box exercise – it’s about creating a culture of awareness and vigilance.
Here’s what you can do today to boost your AML training efforts and compliance:
The SRA has flagged source of funds checks as a key area of focus for their upcoming thematic review. That means now is the time to double down on your procedures and ensure your staff is prepared to meet the challenge.
At The Professional Alternative, we’re committed to helping firms like yours lead the way in compliance innovation.
We make AML training simple, effective, and accessible.
Whether you need access to our full range of compliance courses or just a one-off course, we’ve got you covered. You can view our price packages here.
Our AML course covers everything from legislation to red flags, with real-world insights to help you handle tough client conversations and build compliant teams.
Each module takes less than 10 minutes, fitting seamlessly into busy schedules while meeting SRA standards.
The best part? Your progress is tracked automatically, with a year-end CPD report and a traceable training certificate provided on completion – so, when the SRA come knocking, you’ll have everything you need at your fingertips to show your firm’s commitment to AML compliance.
Contact us today to see how we can help your firm stay ahead in AML compliance!