Bournemouth law firm fined £24k over Money Laundering failures

Aldridge Brownlee fined £24,183 after SRA probe found AMl compliance failures in conveyancing cases

Aldridge Brownlee Solicitors LLP has been fined £24,183 by the Solicitors Regulation Authority (SRA) after an investigation found the Bournemouth-based firm failed to comply with anti-money laundering (AML) requirements across several client matters. The penalty was confirmed in a regulatory settlement agreement dated 15 September 2025 and published by the SRA on 18 September. The firm has also agreed to pay £600 towards investigation costs.

The sanction follows a desk-based review carried out by the regulator’s AML Proactive Supervision team. Investigators identified concerns about the firm’s adherence to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as well as breaches of SRA Principles and the Code of Conduct for Firms.

In four out of seven client matters reviewed, Aldridge Brownlee failed to conduct sufficient ongoing monitoring of transactions. Specifically, the regulator found inadequate scrutiny of the source of clients’ funds, contrary to Regulation 28 of the MLRs 2017. Investigators noted that file records did not demonstrate the required checks to establish where funds originated. The firm subsequently received guidance on source of funds obligations and confirmed that additional training had been provided to staff on when such checks are necessary.

In reaching the agreement, Aldridge Brownlee admitted that its failures amounted to breaches of Principle 2 of the SRA Principles, which requires solicitors to uphold public trust and confidence, and paragraphs 2.1(a) and 3.1 of the Code of Conduct for Firms, which mandate effective systems, controls and compliance with relevant law and regulation.

The SRA said that while the firm did have procedures in place to encourage staff to consider source of funds checks, the issue lay in the failure of individual fee earners to apply those procedures consistently. The regulator accepted that no evidence of actual client harm had been identified and acknowledged that the firm had cooperated with both the Proactive Supervision and AML Investigations teams throughout the process.

However, the SRA determined that a financial penalty was necessary to reflect the seriousness of the failings and to act as a deterrent to the wider profession. It noted that conveyancing work, which accounts for over 40% of Aldridge Brownlee’s business, is classified as high risk in both government and SRA risk assessments because property transactions are particularly susceptible to being exploited for money laundering.

Using its published penalty guidance, the SRA assessed the firm’s misconduct as “less serious” in nature but with a “medium” impact. The initial calculation set the fine at £30,228, but this was reduced to £24,183 in recognition of mitigating factors including the firm’s cooperation and remedial action. The SRA also confirmed that the firm did not appear to have benefitted financially from the misconduct.

The agreement emphasises that firms must take proactive steps to monitor and verify the source of funds in transactions to avoid exposure to money laundering or terrorist financing risks. The regulator stated that Aldridge Brownlee’s failings undermined trust in the profession and that a fine was appropriate to uphold public confidence.

The firm has accepted the findings and agreed not to act inconsistently with the settlement. Should it deny the admissions or breach the terms of the agreement, the SRA may reconsider the matter and pursue a referral to the Solicitors Disciplinary Tribunal.

Aldridge Brownlee, which is based at 13 Christchurch Road, Lansdowne, Bournemouth, remains authorised as a recognised body by the SRA. The fine and publication of the settlement were imposed in line with the regulator’s enforcement strategy, which highlights the central importance of robust AML controls across legal services.