On 20 June, Osborne Clarke reported that, on 17 June, the UKFIU had released an update on suspicious activity reports (SAR) glossary codes and reporting routes, which replaces the previous guidance on this topic. SAR glossary codes allow the UKFIU to conduct further analysis to identify money laundering trends, high-risk cases for development and to take immediate action where necessary. It is possible to have a SAR with several codes (or no code may apply at all). There are new codes for SAR where the value is less than £3,000 and where one is unaware of any existing law enforcement interest at the time of reporting.
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