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Built from your policy
Your rules are tailored from your written risk policy based on your firm's standards.
Why firms use Legl Risk Rules
Checks that fit the client
The right checks run for each client type, whoever on your team sends the request.
Radically faster onboarding
Clients provide the right documentation the first time during onboarding, reducing back-and-forth.
An auditable record
See how each client was assessed and why, with every action on record.
600+ law firms trust Legl with their AML compliance
It's not about monitoring every transaction daily. It's about having the visibility to catch problems before they become serious, and the audit trail to demonstrate that the firm's processes are robust when regulators ask. It's about 'exception reporting' and not 'everything reporting'
We can act much more appropriately to risk. We can quickly see when additional enhanced due diligence or source of wealth checks might be needed, but we can also avoid overdoing things when the additional information we have shows that residual risk is actually lower.
We really like the platform, it's very easy to use and Legl's team is so responsive. Legl so clearly understands the risk assessment process, what law firms need to go through and how to make our lives more efficient.
Frequently asked questions
How can my firm set up Risk Rules?
Legl provides a white-glove service to help your firm align your policies into practice. We use your firm-wide risk policies to identify risk rules which are approved by you before the go-live. We can also support firms through questionnaires to develop risk rules together if preferred - and if you're short on time, there's a strong default rule set drawn from what firms' policies most commonly require that you can start with and tailor later.
How does Legl’s Risk Rules work?
Your firm’s risk policies, procedures and processes are codified into a set of rules which are applied consistently across your client onboarding and AML processes. Legl’s agents ensure that the rules are enforced, remediating directly with the firm’s client, and ensuring that firm staff are equipped with the right information to make quick decisions.
What is a governance layer?
It's the layer that sits between your firm-wide risk policies and appetite and your day-to-day processes across onboarding, AML, payments and more. A governance layer ensures the policies unique to your firm are actually applied to every client consistently. Through the deep configuration available, to the ability to set up your firm's Risk Rules, Legl ensures that your requirements are applied across the firm, and you get a defensible record of how each client was assessed and why.