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UKFIU sanitised feedback on suspicious activity reports
The UK Financial Intelligence Unit (UKFIU) regularly produces a sanitised summary of feedback from law enforcement of its uses of suspicious activity reports (SARs).
The UKFIU is responsible for receiving, analysing and sharing financial intelligence submitted through the SARs regime. It receives just under 600,000 SARs per year.
According to the UKFIU, the sanitised case studies are published to:
- share perspectives on the use of SARs
- encourage best practice among reporters
- provide a feedback mechanism on the regime’s operation
This is a UKFIU product for reporters of SARs, produced in line with the National Crime Agency’s (NCA) commitment to share perspectives on the SARs regime.
Understanding of the AML risks and ensuring quality of reporting is an ongoing challenge.
We encourage solicitors and firms to use this feedback towards achieving best practice.