Restrict Trust Transactions Based on AML Status

Before engaging in any trust transactions, it is important to thoroughly evaluate the client's engagement and assess the potential risk of money laundering. Failing to do so may result in the firm being deemed non-compliant with Anti-Money Laundering (AML) regulations.

Restricting trust transactions based on AML status will:

• Display warnings or prevent the creation of trust transactions that will breach AML regulations.
• AML validations will apply to Trust requests, Deposits, Payments, Invoice Payments and Journals.

Configuring Trust Rules for AML

You can select the preferred validation level for matters that require a matter risk assessment by going to

• Admin > Trust accounting > Scroll down to Additional settings > Click Additional system-wide preferences.

• Select the validation level for each trust transaction, you have the flexibility to, for example, allow trust receipts but block payments and pay firm invoices.

• Allow:  No AML validation
• Warning only: If a matter risk assessment has not been finalized, users will get a warning before creating a trust transaction.
• Block: If a matter risk assessment has not been finalized, users will be blocked from creating trust transactions.

Examples of how Blocking Transactions will Appear

• Trust Receipt:

• Payments:

Examples of how Warning Transactions will Appear

• Invoice payments:

• Journals / Transfers:

Bypassing AML Trust Validation on a Matter

When a matter is blocked from generating trust transactions because of its AML status, you can opt to temporarily bypass the validation. 

• In the applicable matter go to Billing > Matter billing options > Scroll down to Trust accounting.

• Set a date in the Bypass AML validation until section. When the date is set, the system will ignore AML validations for trust transactions and will show warnings instead.