SARs Reporter Booklet August 2024 - out now! Find examples of how SAR intelligence has been used by law enforcement agencies to initiate fraud and money laundering investigations and inform existing ones. Available on the National Crime Agency website: https://bit.ly/4chQMaD
UK Financial Intelligence Unit (UKFIU)
Law Enforcement
National responsibility for receiving, analysing and disseminating financial intelligence through the SARs regime
About us
The UKFIU has national responsibility for receiving, analysing and disseminating intelligence submitted through the Suspicious Activity Reports (SARs) regime. It sits at the heart of the regime, providing the gateway to reporters and a repository of data to inform law enforcement. For the 2019-20 financial year the UKFIU received over 570,000 SARs from over 5,000 organisations. SARs alert law enforcement to potential instances of money laundering or terrorist financing. SARs are made by financial institutions and other professionals such as solicitors, accountants and estate agents and are a vital source of intelligence not only on economic crime but on a wide range of criminal activity. They provide information and intelligence from the private sector that would otherwise not be visible to law enforcement. SARs can also be submitted by private individuals where they have suspicion or knowledge of money laundering or terrorist financing. SARs are not crime or fraud reports; if someone wishes to report a crime or a fraud they should contact either their local police service on 101 or Action Fraud on 0300 123 2040. Follow us on: - Twitter (https://twitter.com/NCA_UKFIU)
- Website
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https://www.nationalcrimeagency.gov.uk/what-we-do/crime-threats/money-laundering-and-illicit-finance/suspicious-activity-reports
External link for UK Financial Intelligence Unit (UKFIU)
- Industry
- Law Enforcement
- Company size
- 51-200 employees
- Headquarters
- London
- Specialties
- money laundering, terrorism financing, intelligence, fraud, organised crime, serious crime, child protection, international crime, suspicious activity reporting, and analysis
Updates
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How SAR intelligence led a law enforcement agency to uncover an organised criminal gang... 🔎 This case study and more in the SARs Reporter Booklet August 2024. Available on the NCA website: https://bit.ly/4chQMaD
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The UK Financial Intelligence Unit (UKFIU) Reporter Engagement Team have spent two days in Edinburgh at NatWest Group delivering SARs best practice workshops to around 500 staff from across their economic crime function. We were also joined by Police Scotland, who talked about the value of SARs to law enforcement #FinancialCrime #SuspiciousActivityReport #AML #Partnership
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🔹 The number of Suspicious Activity Reports (SARs) submitted via our new reporter channels has reached a landmark point, with over half a million having been received. 🔹 The success of the new channels represents a significant step on the path to improving the way we tackle of money laundering, terrorist financing and other criminal activity. 🔹 Thank you to all our colleagues in the regulated sectors who have helped make this change a success.
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Last call for experienced financial investigators! 💷🔎 Applications for Proceeds of Crime Centre Regulators will close at 23:55 on Sunday 4 August. Find out more about this role and apply here 👉 https://bit.ly/4cRbizh
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New Glossary Codes Coming 🔜 🔹 Four new glossary codes will be added to the SARs Portal 🔹 UKFIU social media will be updated when the codes are live and able to use 🔹 SAR reporters should not manually type the glossary codes into SARs For the full article in SARs in Action Issue 26, click here 👉 https://bit.ly/3Wgs2cB
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Closing date extended❗️ We’re looking for experienced Financial Investigators to join the PoCC as Regulators and develop the financial investigators of the future. Find out more and apply here 👉 https://bit.ly/4cRbizh Applications close 4 August.
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Calling all experienced financial investigators 💷🔎 The Proceeds of Crime Centre are hiring regulators to help train and develop the financial investigators of the future. Find out more about this role and application process here 👉 https://bit.ly/4cRbizh Applications close 4 August.
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Do you know how Generative AI will impact your work? How will Generative AI impact fraud? Learn how this crime type is developing in the post below ⬇️ Learn more about the threat of Generative AI and other developments in the world of SARs in Issue 26 of SARs in Action: https://bit.ly/3Wgs2cB #GenerativeAI #Fraud
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Last week the UKFIU delivered a SARs Best Practice Workshop with an organisation within the Gaming sector. 🎲🎲🎲 If your organisation is interested in receiving a SARs workshop, please contact [email protected].
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