Lawyers at the IBA meeting in Cancun last week denounced plans to water down client privilege as part of an international bid to stamp out money laundering — despite the official support of the IBA for tougher reporting standards.
Although the IBA’s business section panel, which included Keith Oliver, a partner with City corporate crime specialist Peters & Peters, supported moves to tighten rules on reporting suspected money laundering, there was widespread hostility from delegates to any erosion of privilege.
