The Law Society Gazette reports that Simpson Thacher & Bartlett was fined £300K for historical AML breaches, including failures in risk assessments and compliance policies

The firm was alleged to have failed to have, in compliance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, to carry out a firm-wide risk assessment between June 2017 and March 2020, and, between June 2017 and January 2023, failed to have in place fully compliant policies, controls or procedures…