Submitting Better Quality Suspicious Activity Reports (SARs)

Rationale:

Submitting good quality SARs can reduce delays and help the UKFIU to quickly prioritise and process the report. Poor quality reporting can lead to unnecessary delays, particularly where a defence against money laundering has been sought, and can cause problems with your client, customer or supplier. Firms should recommend that firms adopt the advice set out in the NCA’s <a href="https://nationalcrimeagency.gov.uk/who-we-are/publications/499-guidance-for-aml-supervisors-v1-0/file">guidance</a> on submitting better SARs.