What is a financial transaction?

The following are resources that may be helpful in answering your enquiry. Please familiarize yourself with them before moving on.

In brief: The definition of financial transaction is broad and can apply in circumstances where no money is deposited into your trust account.

Rules - Definitions of “financial transaction” and “money”: Law Society Rule 3-98.

Practice Resource - Anti-Money Laundering Webinar 2024

Practice Resource - See Top 10 Tips when verifying Client ID

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