thewealthnet

Anti-money laundering reports up exponentially

News Team, 08/11/2019

The National Crime Agency has received a record number of Suspicious Activity Reports, the mechanism used to flag potential money laundering and related offences.

According to the NCA’s newly released annual report, which covers the year ending 31 March 2019, the agency received a record 478,437 Suspicious Activity Reports or SARs, a 3 percent increase on the prior year.

Anti-money laundering specific SARs, called Defence Against Money Laundering Requests (DAMLs), were up 53 percent year on year to 34,151.

“The [NCA’s Financial Intelligence Unit] has again worked hard to provide law enforcement agencies ...


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