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The number of law firms suspected of involvement in money laundering trebled last year, with some solicitors mixed up with the Russian mafia as well as “inappropriate transactions” following the Arab Spring, the Solicitors Regulation Authority revealed yesterday.

A quarter of conveyancing firms have experienced a client attempting to commit property-related fraud or money laundering, new research has revealed. This frequency suggests that many firms “might be over-optimistic” about the likelihood of encountering similar attempts in the future

Eighteen solicitors were sanctioned by the Solicitors Disciplinary Tribunal last year for breaches of anti-money laundering obligations, the Law Society has reported. It has also identified alternative business structures as among the increased risks of money laundering facing the profession.

Our regular round-up of bits of news you may have missed include new locations for the HighStreetLawyer.com network, a firm recruiting its COLP, firms launching joint ventures and targeted services, professional training for will-writers, money laundering warning, and more.

The Treasury is set to abolish more than two dozen money laundering offences that can penalise lawyers for minor rule breaches, it has confirmed, but they could be replaced with extra powers for regulators. Very small businesses could even be exempted from the rules altogether.