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CELE SQE1 模拟练习

Examination Timing: 00H09M56S

Rachel, a solicitor, is contacted by Mr. Wilson, a client interested in buying several properties. Mr. Wilson avoids answering questions about the intended purpose of these purchases. Rachel becomes suspicious when Mr. Wilson quickly sells all the properties and transfers the money to accounts in various offshore locations. Which of the following statements best describes Rachel's obligations as set out in the Law Society's April 2009 Warning Card on Property Fraud?

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According to the Law Society's April 2009 Warning Card on Property Fraud, the Money Laundering Regulations 2007 require solicitors to take diligent steps to identify and verify their clients by independent means. They must also identify and, using a risk-sensitive approach, verify any beneficial owners, and obtain detailed information on the purpose and intended nature of the business relationship. This goes beyond merely confirming that the client wishes to sell a property; it involves assessing whether the information in the retainer is consistent with a lawful transaction. The solicitor does not need to act for the lender to be implicated in money laundering. It is insufficient to have administrative staff simply take a photocopy of a passport without further scrutiny. The solicitor must compare the identity information with what is known about the client and the transaction. If inconsistencies arise, further questions must be asked. Assuming that a transaction is legitimate simply because it does not appear to make an obvious profit is also incorrect, as the proceeds of crime could still be involved. 


Key Point: The SRA Accounts Rules and Money Laundering Regulations 2007 require solicitors to conduct thorough due diligence to verify the client's identity, the nature of the transaction, and the legitimacy of the funds. This ensures compliance and helps prevent involvement in fraudulent activities.

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