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Law firms fail to make adequate identity checks

The legal profession is falling short of meeting its responsibilities when it comes to money laundering regulations, a survey has found.

Property search specialist TM Group and legal training provider Central Law polled 160 legal and conveyancing professionals on anti-money laundering measures in England and Wales.

Nearly 75% of respondents see money laundering as a serious threat but more than a third do not consider the regulations to be necessary.

Nick Dyoss, director of TM Group, says: “Some 65% of those surveyed still rely on checking photo IDs and utility bills for identification and are therefore falling short of best practice.”


King in talks at Number 10

This morning Mervyn King, governor of the Bank of England, met with Prime Minister Gordon Brown and chancellor Alistair Darling following the failure of the $700bn American rescue package.

Unified body in prospect as PMPA bows out

Packagers are a step closer to having a single trade body after the Professional Mortgage Packagers Alliance announced its decision to leave the market last week.

CBI predicts 12,000 financial job losses

The Confederation of British Industry is predicting that the financial services sector will suffer at least 12,000 job losses over the next quarter.

Listening to the faint refrain of Formby

Has anyone heard of the banjolele? Not many, I would think.

Few have played the instrument with any success, which is hardly surprising, because it sounds awful.

A modern horror story

Every day a quick scan of the news reveals some new horror that will change the lives of those involved forever – the unlucky accident on the way to work, a tragic illness that cuts a young life short or the holiday accident that leaves more than just a scar to cope with. We barely […]


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