A9 : Lawyers and international money laundering

Over the recent past, lawyers and other professional groupings have been awarded the status of gatekeepers and scrutineers of transactions for their clients. The professional regulators of lawyers are also under obligations to ensure training and regulations which meet the expectations of governments who have collaborated to crack down on money laundering and the movement of funds with criminal origin into respectability. Issues such as client confidentiality and the obligation to ‘inform’ on clients have been discussed. This session looks at where matters currently stand for lawyers who wish to act for a client where a client expects the lawyer to maintain confidences – while at the same time complying with an obligation that lawyers are not facilitators for crime. The panel will consider issues of individual client rights balanced against the desirable aim of ensuring that those who have gained monies through corrupt practices or crime have the real concern that their activities might be reported, and their assets confiscated. It will also consider whether unexplained assets and confiscation orders are working.