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Suzanne Townley

News Editor, Solicitors Journal

Increase in suspicious activity reports

60 Seconds
Increase in suspicious activity reports


The news in 60 seconds

The National Crime Agency’s UKFIU Suspicious Activity Reports (SARs) Annual Report has revealed a 21 per cent increase in SARs in the year ending 31 March 2022, and a 120 per cent increase in funds denied to suspected criminals as a result of Defence Against Money Laundering Requests (DAMLs). Kingsley Napley criminal litigation partner, Jonathan Grimes, said the SARs regime is a “vital component” of the fight against financial crime. “Although AML compliance is gradually becoming embedded as a part of business as usual, understanding how to submit effective SARs – including DAMLs – is more important than ever”.