Lawfare - the case against mandatory AML

While lawyers in Europe long ago accepted they should be under a legal duty to manage client money laundering risk, their counterparts in other leading jurisdictions - the United States, Canada and till recently Australia (though legislation is not yet passed) - have fought vigorously against imposition of similar obligations. Keith Nuthall looks into their rationale and whether it can hold.

While lawyers in Europe long ago accepted they should be under a legal duty to manage client money laundering risk, their counterparts in other leading jurisdictions - the United States, Canada and till recently Australia (though legislation is not yet passed) - have fought vigorously against imposition of similar obligations. Keith Nuthall looks into their rationale and whether it can hold.