Why conveyancing firms need to prioritise smarter compliance

Written by Sam Jordan, COO InfoTrack UK 

The conveyancing sector has come under heightened scrutiny from the Solicitors Regulation Authority (SRA), with significant Anti Money Laundering (AML) fines levied against conveyancers. Since June, AML fines against UK conveyancers have exceeded £100,000, reflecting the SRA’s intensified oversight in an increasingly complex regulatory landscape, as reported by Today's Conveyancer. 

Summary of recent events 

Recent AML penalties have primarily arisen from incomplete risk assessments, gaps in internal policies and procedures, and inconsistent evaluations of client and matter risks. 

The largest fine issued in this period reached £120,000, reflecting what the Solicitors Disciplinary Tribunal described as long-term failures in key AML controls. These included the absence of a firm wide risk assessment (FWRA), missing or inconsistent client and matter risk assessments (CMRAs), and insufficient source of funds procedures, despite repeated professional warnings. While no actual money laundering or client loss occurred, the tribunal concluded that these persistent deficiencies posed a serious risk to public trust and the profession’s reputation. 

Other enforcement cases have focused on firms that failed to demonstrate sufficient staff training in AML regulations or applied matter specific risk assessments inconsistently. Many were penalised for outdated or unreviewed policies, exposing a widespread lack of ongoing monitoring and due diligence. 

Analysis and implications 

These recent fines reinforce the core purpose of the Money Laundering Regulations: to help firms identify risks such as fraud, terrorist financing, or other criminal activities and respond with an appropriate level of customer due diligence (CDD). 

For conveyancers, this means three fundamental actions: 

  1. Having a process for identifying and managing risks. 
  1. Following the process consistently across the firm. 
  1. Providing evidence that the process was followed, because if you cannot evidence it regulators may assume it was not done. 

This is not about ticking boxes. It is about embedding a risk-based approach that safeguards the firm, its clients, and the wider profession from exploitation. 

Non-compliance carries serious financial, reputational, and operational consequences. However, effective compliance also protects long term client trust and professional credibility. The challenge is achieving this in a way that does not overburden staff or create friction for clients at onboarding or transaction stages. 

This is where technology enabled compliance becomes a differentiator, allowing firms to be both thorough and efficient. 

Proactive solutions: Smarter compliance in practice 

Addressing AML compliance effectively can seem daunting, but the right systems simplify it. InfoTrack’s Electronic Client Onboarding Solution (eCOS) supports firms in embedding a smarter, risk based compliance framework. 

eCOS does more than run checks. 

  • It provides automated daily monitoring for PEPs, sanctions, and adverse media so client profiles remain up to date. 
  • Built in prompts and workflows guide conveyancers through CQS aligned processes, ensuring consistency across the firm. 
  • Dashboards and digital audit trails provide the visibility and evidence needed to demonstrate compliance, satisfying regulators without adding administrative burden. 

By reducing manual tasks and minimising human error, eCOS helps firms follow their processes with confidence while maintaining oversight and demonstrating compliance to regulators. 

Conclusion 

The message from the SRA is clear: Having a process on paper is not enough. It needs to be risk based, actively maintained, consistently applied, and evidenced. Firms that can balance regulatory rigour with operational efficiency will not only avoid penalties but also strengthen client trust and competitive standing. 

eCOS gives conveyancers the tools to achieve that balance. It embeds compliance into everyday workflows, streamlines onboarding, and provides the evidence regulators expect. 

Discover how eCOS can make compliance smarter and simpler. Visit InfoTrack or speak to our team today. 

 

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Written By

Sam Jordan

Chief Operating Officer
Published 05/8/2025
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