SQE1 · FLK1 · Practice
Legal Services — single-best-answer practice
Five options, one best answer, no negative marking. Submit each question to see the rationale and the controlling authority before moving on.
Question 1 of 20 · Legal ServicesScore 0 / 0
A solicitor receives £15,000 in cash from a new client who wishes to purchase a residential property. The client explains that he has been saving the money at home because he distrusts banks. The solicitor is satisfied that the client's explanation is credible and that there are no other suspicious circumstances. The solicitor places the cash in the firm's client account. What obligation does the solicitor have under the Money Laundering Regulations 2017?