Opinion: Law Society guards against money-laundering

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April 17, 2017

Despite the reports in the popular press, the Law Society of B.C. can assure British Columbians that lawyers in the province aren’t complicit, either knowingly or unknowingly, in money-laundering.

The Law Society of B.C. regulates the conduct of lawyers. Law Society rules and our Code of Professional Conduct for B.C. ensure that lawyers don’t, knowingly or unknowingly, participate in money-laundering schemes. They prohibit lawyers from engaging in suspicious transactions, and set out stringent criteria for cash transactions and client identification. The rules also regulate how lawyers handle their clients’ money, and the Law Society monitors compliance through a rigorous auditing program.