A report by the Solicitors Regulation Authority (SRA) suggests that risks posed to law firms and the public by money laundering, cybercrime and suspect investment schemes have all reached record highs. Data revealed in the SRA’s annual Risk Outlook report shows that criminals are increasingly targeting law firms in order to steal tens of millions from businesses. Statistics include reports of money laundering relating to law firms having risen by two thirds since 2016; losses of £47.4m since 2015 due to possibly dubious investment schemes; and reports of cybercrime up 50% year-on-year, reaching a record high of 157 in 2017.
01 August 2018
Risks to law firms hit record highs
MOVERS & SHAKERS
NLJ Career Profile: Daniel Burbeary, Michelman Robinson
Daniel Burbeary, office managing partner of Michelman Robinson, discusses launching in London, the power of the law, and what the kitchen can teach us about litigating
Joelson—Jennifer Mansoor
West End firm strengthens employment and immigration team with partner hire
Sidley—Jeremy Trinder
Global finance group strengthened by returning partner in London
NEWS
The controversial Courts and Tribunals Bill has passed its second reading by 304 votes to 203, despite concerted opposition from the legal profession
The presumption of parental involvement is to be abolished, the Lord Chancellor David Lammy has confirmed
A highly experienced chartered legal executive has been prevented from representing her client in financial remedies proceedings, in a case that highlights the continued fallout from Mazur
Plans to commandeer 50%-75% of the interest on lawyers’ client accounts to fund the justice system overlook the cost and administrative burden of this on small and medium law firms, CILEX has warned
Lawyers have been asked for their views on proposals to change the penalties for assaulting a police officer
Copyright © 2026 LexisNexis
