As reported in a recent edition of the Law Society Gazette, law firms could find themselves being sued for reporting suspected money-laundering.
This follows a recent Court of Appeal decision pursuant to which HSBC is now required to prove in Court that its suspicions that its client was involved in money-laundering were held in good faith.
Previously, it was thought that banks (and law firms) could merely act on a hunch about a client's transactions and without disclosing the reasons for that hunch.
For further information please contact Robert Johnson (telephone 020 7822 4106, e-mail robert.johnson@healys.com) in Healys' London office.
