NCA Releases SARs Guidance Video Series

Topics covered in the series include:

➡️ Defining SARs and why they need to be submitted;

➡️ Glossary codes;

➡️ Reasons for suspicion;

➡️ Best practice for the criminal or terrorist property section;

➡️ Best practice for the prohibited act section; and

➡️ What happens after a defence against money laundering or terrorist financing is submitted.

✅Firms should review their SAR procedures, ensuring the approach, structure, and content of submissions aligns with the best practice highlighted in the video series.