Out now: National Crime Agency SARs in Action magazine, issue 33

IPA Insolvency Practitioner newsletter, September 2025

The latest edition of the NCA’s SARs in Action magazine highlights how Organised Immigration Crime (OIC) is financed and the role that the regulated sector can play in disrupting it. Whilst the magazine is focusing on the topical issue of immigration crime, it includes useful explanations and examples of the general risks and methods used to launder proceeds of crime.

Key points for insolvency professionals and their staff:

• Informal Value Transfer Systems (IVTS/Hawala): increasingly misused to move criminal funds linked to people smuggling
• Investigation insights (Operations SHEETFUL, WIREWORKER, TAKEFUL): the reports show how Organised Crime Groups launder illicit proceeds into property, vehicles and other assets – areas Insolvency Practitioners may encounter or see links to in casework.
• Rising SARs: OIC-related SARs have grown by over 90% in 2023/24 compared to the previous year. Red flags include visa sponsorship abuse, unexplained international transfers, use of ride-sharing/delivery accounts, and informal transfer routes.
• DAML threshold update: an increased threshold took effect on 31 July 2025; case studies show how DAML SARs uncovered large-scale visa fraud and led to asset forfeiture.
• Glossary codes: reporters are reminded to distinguish OIC (XXOICXX) from Modern Slavery & Human Trafficking (XXMSHTXX) to ensure accurate intelligence sharing.

Why this matters:

Awareness of these typologies helps practitioners identify potential suspicious activity in insolvency and restructuring work, particularly where funds, assets or client behaviour may indicate links to OIC. You are encouraged to share this awareness with staff involved in client onboarding, investigation and general case work. The magazine highlights a number of red flag issues that if seen need to be promptly and appropriately reported.