Revised Suspicious Activity Reporting guidance published by the UK Financial Intelligence Unit
The UK Financial Intelligence Unit, part of the National Crime Agency, has issued revised guidance setting out best practice for Suspicious Activity Reporting (SAR).
The guidance covers the following topics:
- Using the SAR Portal
- Submitting a Good Quality SAR
- Understanding Defence Against Money Laundering (DAMLs) and Defence against Terrorist Financing (DATFs)
The updated guidance replaces all previous guidance, which is no longer in effect and should now be disregarded.
Firms who are supervised for AML purposes should ensure that their Money Laundering Reporting Officers (MLROs) and Money Laundering Compliance Partners (MLCPs) are aware of and familiar with the revised guidance. Firm policies and procedures should also be reviewed and updated as necessary to take account of the latest guidance.
Categories:
- AML
- Practice
- Technical
