Acting for cash-intensive high street businesses and relying on existing due diligence are “emerging” risks in the fight against money laundering, the Solicitors Regulation Authority (SRA) has warned the profession. The SRA is required to issue a money laundering and terrorist financing sectoral risk assessment under the 2017 Money Laundering Regulations and keep it updated. It continued: “Law enforcement reporting continues to identify some cash-intensive businesses as being vulnerable to exploitation by organised criminal groups, including for money laundering and other criminal purposes such as modern slavery. This posed an inherent risk of money laundering “if proper controls are not applied”, the regulator said. Last year’s update said the decentralised nature of consultant-led law firm could carry risks.