The 2018 Suspicious Activity Reports (SARs) Annual Report is published today, showing that the UK Financial Intelligence Unit processed a record number of SARs (463,938); 22,619 of those were requests for a defence against money laundering (DAML), which resulted in a total of £51,907,067 being denied to criminals.
There was also a marked increase in the number of SARs assessed by the UKFIU and fast-tracked to law enforcement agencies, thus ensuring that the maximum value of SARs intelligence is exploited. Over the year the UKFIU expedited the dissemination of 3,615 vulnerable person SARs (up 37.61% from 2,627 in 2016-17). Similarly, 1,419 PEP SARs were disseminated (up 64.62% from 862 the previous year).
The report clearly evidences how SARs are vital to tackling the many and varied forms of criminality impacting the UK.
The report can be downloaded here.