Under the general obligations, you must comply with the Money Laundering Regulations 2017 and client identification requirements.

• A. True
• B. False
• C. Only for overseas clients
• D. Not required

Answer: (A)

Anti-money laundering controls are a fundamental part of the general obligations. The Money Laundering Regulations 2017 require you to carry out client due diligence and identify your client (and any beneficial owner), assess risk, monitor transactions, and keep appropriate records. These requirements apply to conveyancers for all clients, not just overseas ones, and aren’t optional. So the statement is true: you must comply with the Money Laundering Regulations 2017 and client identification requirements as part of the general obligations.