In an article for Money Laundering Bulletin, London-based White & Case partner Jonah Anderson and professional support lawyer Steve Rowland look at the continuing rise in the volume of suspicious activity reports (SARs) in the UK and whether the UK’s Financial Intelligence Unit (UKFIU), which sits within the National Crime Agency, is equipped to cope.
They write: 'The UKFIU is currently rolling out a new and improved portal for the online submission of SARs called the SAR Portal. This is intended to make the filing of a SAR "simpler and more intuitive", with the aim of improving the quality of SARs. Such an improvement in quality will hopefully reduce the burden on the UKFIU and increase the effectiveness of the regime.'
The full article can be found online here (paywall).
Press contact
For more information please speak to your local media contact.
