The UK Financial Intelligence Unit (“UKFIU”) has published the May 2023 edition of ‘SARs in Action’.

The latest edition focuses on fraud, with an estimated 3.7 million fraud offences committed in England and Wales in the year ending September 2022. The newsletter outlines current fraud trends and threats, providing useful information on:

  • Romance fraud;
  • Money mules;
  • Recycling credits fraud;
  • Fraud and SAR utilisation;
  • Fraud in the accountancy sector;
  • Case studies on SARs and DAMLs

Firms can read the latest UKFIU publication to gain insights into fraud trends and threats, alongside the continued importance of suspicious activity reporting.

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