UK: PUBLICATION OF THE 2020 ANNUAL REPORT ON THE SUSPICIOUS ACTIVITY REPORTS REGIME

On 19 November, the NCA published the latest annual report, saying that the year saw another record number of SAR, receiving and processing 573,085 (a 20% increase on the previous period of 478,437), with an 81% increase in requests for a defence against money laundering or terrorist finance (62,408).  Over the year £172 million was denied to suspected criminals as a result of Defence Against Money Laundering (DAML) requests – up 31% on the previous year’s £132million and over 3 times the £52 million denied in 2017/18.  The report also includes, for example, details of an additional £56 million that HMRC obtained through matching SAR with other data sets for criminal and civil intervention.

https://www.nationalcrimeagency.gov.uk/news/publication-of-the-2020-annual-report-on-the-suspicious-activity-reports-regime

The report is at –

https://www.nationalcrimeagency.gov.uk/who-we-are/publications/480-sars-annual-report-2020/file

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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