Suspicious Activity Report best practice videos

Here are clear instructions to help you handle difficult issues.

A Suspicious Activity Report (SAR) alerts law enforcement that certain client activity or transactions are in some way suspicious and might indicate money laundering or terrorist financing activity. It provides valuable information on potential criminality and protects you, your organisation and UK financial institutions from the risk of laundering the proceeds of crime. 

Given the importance of SARs, we strongly encourage you to watch these six short Best Practice Videos produced by the UK Financial Intelligence Unit (UKFIU) covering the following topics:

1. What is a SAR and why do I need to submit one?
2. Know your Glossary Codes
3. Reason for Suspicion
4. Best practice for completing the criminal / terrorist property section
5. Best practice for completing the prohibited act section
6. What happens after you submit a DAML or DATF?

Further guidance and support on MLR compliance is available on our AML webpage. You can also contact us on +44 (0)20 7367 1347 or via email [email protected].

AAT Comment offers news and opinion on the world of business and finance from the Association of Accounting Technicians.