Core Viewpoint - The article discusses the recent release of the "Anti-Money Laundering Work Management Measures for the Legal Profession (Draft for Comments)" by the Ministry of Justice and the People's Bank of China, emphasizing the compliance responsibilities of law firms in anti-money laundering efforts [1][2]. Compliance Responsibilities - Law firms providing legal services related to Article 64, Section 2 of the Anti-Money Laundering Law must fully comply with anti-money laundering obligations [2]. - Law firms are required to establish internal control systems, including risk assessments, client identity verification, and maintaining due diligence information for at least 10 years [5]. - Continuous monitoring and reporting of client risks, identifying suspicious transactions, and taking special precautions for high-risk clients such as Politically Exposed Persons (PEPs) and Ultimate Beneficial Owners (UBOs) are mandated [5][6]. Internal Control and Due Diligence - Violations by law firms will result in penalties, and regulatory personnel will also be held accountable for negligence [3]. - Collaboration across departments and training for all lawyers on anti-money laundering practices are essential, with strict confidentiality of client data and investigation information [5]. Compliance Tools and Solutions - LSEG World-Check offers compliance tools that align with the requirements of the draft, including a global risk database and intelligent screening [4]. - The platform provides real-time monitoring of client risk changes, automatic generation of audit reports, and features for sensitive case screening to ensure data confidentiality [8][10]. - The solution supports customizable workflows and audit trails to meet the 10-year record-keeping requirement [10]. Case Studies and Evidence - A top 50 global law firm's China branch improved client onboarding screening efficiency by 80% using World-Check, reducing high-risk case review time to 15 minutes per case [13]. - A cross-border merger law firm successfully identified hidden connections to sanctioned entities, avoiding potential compliance losses amounting to hundreds of millions [13]. Training and Support - Free training sessions covering new regulations and high-risk country due diligence practices are available, along with customizable solutions for law firms of various sizes [13][21].