Yes, there are rules. The rule I mentioned is the rule that says lawyers cannot aid in a criminal act by a client. I'm paraphrasing now, but that's the gist of it, and every law society has that. I can safely say that lawyers who are found in breach of that would be subject to an investigation, likely a discipline hearing, and sanctions. As I said, the sanctions can go up to disbarment, which means they would no longer be a lawyer.
I'm aware of one recent case in Ontario, in which a lawyer was convicted of money laundering.