Anonymised Anti-Money Laundering (AML) case studies, to assist members in reviewing AML policies and procedures, are available on our enforcement notices page – click here.

Updates to Suspicious Activity Reports glossary codes

The National Crime Agency (NCA) has published an update to the Suspicious Activity Reports (SARs) glossary codes guidance, with an explanatory note on the SARs code changes. The guidance includes some examples of SAR reporting to assist you and/or your Money Laundering Reporting Officer (MLRO) in making reports to the NCA via the SARs database.

All firms should have a SARs policy as part of your Anti-Money Laundering (AML) policies and procedures, and this policy should be kept under regular review and include how SARs are reported to your MLRO. Your MLRO must also ensure that SARs are securely held and that access to SARs is not available on case files, databases etc. accessible by staff.