Money mules and VAT fraud

Latest SARs Reporter Booklet includes sanitised case studies for your review.

The latest SARs Reporter Booklet has been published, and it contains two examples of sanitised case studies relating to money laundering via use of money mules and VAT fraud scheme.

We strongly encourage you to review these cases and use them as part of your internal AML training. Ensure that you and your relevant employees keep your AML knowledge current and aligned with the sector-relevant knowledge. Do not forget to keep a written record of ongoing CPD in AML.

Remember, money laundering is never a victimless crime. If you know, suspect or have reasonable grounds for knowing or suspecting that a person is engaged in money laundering or dealing in criminal property, you must submit a Suspicious Activity Report (SAR) via SAR portal to the UK Intelligence Finance Unit (UKFIU).

Further guidance and support on risk management and other components of Money Laundering Regulations compliance is available on our AML webpage. You can also contact us on +44 (0)20 7367 1347 or via email [email protected].

Review the latest SARs Reporter Booklet now.

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