02 Mar 2023

Improving the Quality of Suspicious Activity Reports (SARs)

Description

The Society, with input from the National Crime Agency (NCA), is delivering an online webinar aimed at Money Laundering Reporting Officers (MLROs)/Nominated Officers (as per the Money Laundering, Terrorist Financing and Transfer of Funds (Information of the Payer) Regulations 2017).

The NCA, as the body to whom MLROs submit SARs, will discuss from its perspective the SARs regime and why it is in the interests of all parties to continue working together on improved reporting.

Topics to be covered include:

• Overview of the scale of money laundering within the UK;

• Types of SAR and how the SAR regime is structured.

• How SARs are used and why their individual quality matters;

• Best Practice for submitting quality SARs

• The guidance available;

• Sanitised case studies and success stories from SAR submissions

• What is on the horizon – SAR reform and IT Transformation & Guidance