As legal professionals, we carry the weighty responsibility of upholding the law. But did you know that under Section 2 of the Proceeds of Crime and Anti-Money Laundering Act (POCAMLA), advocates are classified as designated non-financial businesses or professions (DNFBPs) and are reporting institutions? This means we’re on the front lines in the fight against money laundering.

In this week’s article, we explore how lawyers, like “Mr. City Loya,” can unknowingly facilitate money laundering through seemingly ordinary transactions. By understanding the stages of money laundering—Placement, Layering, and Integration—we can better protect ourselves and our profession from being exploited by criminals.

Stay vigilant, stay compliant, and let’s ensure that our legal practices remain above reproach. Read our 1-minute Article on the same attached.