Money laundering: SRA refers Â£200m of suspected criminal proceeds to NCA
By Nicola Laver
The SRA made 26 SARs to the NCA between January and October 2020 and cryptocurrency could become an issue
The regulator made 26 suspicious activity reports (SARs) to the National Crime Agency last year to the end of October, based on suspected money laundering worth than £200m. The SRA was also monitoring a further 122 potentially suspicious matters, of which it said 31 were internal SARs. The regulator’s money laundering reporting officer told an SRA board meeting in March that matters involving the use of cryptocurrency have not yet been encountered, but it was recognised as a potential issue.