UKFIU publishes new guidance on SARs
The UK Financial Intelligence Unit (UKFIU) has published new best practice guidance on suspicious activity reports (SARs) for suspected money laundering or terrorist financing.
The UKFIU has published three new SARs best practice guides on:
- using the SAR Portal
- submitting a SAR
- understanding defences against money laundering (DAMLs) and defences against terrorist financing (DATFs)
Read the updated SAR guidance.
This guidance replaces all previous UKFIU guidance, which has been withdrawn and should no longer be used.
All regulated entities are expected to:
- review the updated guidance carefully
- update internal policies and procedures where required to reflect the new guidance
Learn more about who is regulated under the Money Laundering Regulations 2017.
If you are a money laundering reporting officer (MLRO), it’s important to keep your main contact details up to date on the SAR Portal.
You can update personal and organisational information via the ‘Account Settings’ section in the top right-hand corner of the SAR Portal homepage.
I want to know more
Our guide to SARs explains when and how to make a report, what to include, how to request a DAML and what happens if you fail to report suspicious activity.