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Veteran lawyer suspended for breaching Law Profession Act AML/CFT Rules – How to conduct customer due diligence?

A veteran lawyer of 18 years’ standing was suspended in late-Sep 2017, from practice for two years and fined $100,000 for professional misconduct in a case relating to anti-money laundering (AML). In what had started out “innocuously” as an incident of breaching professional conduct rules, the case was eventually escalated into that of aiding money laundering activities, and finally deemed serious enough to be referred to the Court to mete out punishment. In sentencing, Chief[…]