Suspicious Financial Activity Reports Hit Record High
Law360, London (December 20, 2018, 8:39 PM GMT) -- Britain’s crime-fighting authorities received more reports of suspicious financial activity than ever before in 2018, which has led to nearly £52 million ($65.7 million) of dubious cash being denied to criminals, figures published on Thursday reveal.
The National Crime Agency said in its annual report that suspicious activity reports, or SARs — which alert law enforcement agencies that client or customer activity at a firm is suspicious and might indicate money laundering or terrorist financing — have hit record levels.
The NCA received 463,938 SARs between April 2017 and March 2018, a 9.6 percent increase on the 12 months from September...
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