Anti-Money Laundering Policy

Effective Date: 01-06-2024

1. AML Policy Overview

This Anti-Money Laundering (AML) Policy outlines LawNeeds Ltd’s commitment to preventing money laundering, terrorist financing, and other forms of financial crime, in accordance with the UK Money Laundering Regulations 2017.

2. How We Collect Your Information

We use different methods to collect data from and about you including through:

 

• Provides AI-powered legal guidance and information
• Facilitates user access to regulated legal professionals
• Offers tools for legal drafting and legal research to professional users via LawNeeds Pro

 

LawNeeds is not a regulated entity under the Money Laundering Regulations 2017, as we do not provide legal advice, do not handle client funds, and do not form or manage trusts or companies.

3. AML Responsibility

LawNeeds does not carry out full AML checks on users of its AI-guidance services. Legal professionals onboarded to the platform are responsible for their own AML compliance, including client due diligence and reporting obligations.

4. Risk-Based Approach

We may share your personal data with:

 

• Basic Know-Your-Customer (KYC) screening is performed for professional users.
• Suspicious or fraudulent activity is flagged and reviewed.
• LawNeeds will escalate any suspected misuse to appropriate authorities.

5. Third-Party AML Assurance

All professional users must:

• Confirm registration with a relevant UK legal regulatory body
• Declare AML compliance
• Acknowledge their AML responsibility via onboarding terms

6. Internal Controls and Training

LawNeeds maintains activity logs, conducts internal reviews, and provides AML awareness training to relevant staff. A Compliance Officer is responsible for risk review and enforcement.

7. Cooperation with Authorities

LawNeeds will cooperate with regulatory or enforcement agencies upon receipt of valid data requests related to AML investigations.