NCA cites record number of SAR filings, far fewer investigations
UK financial institutions and other firms filed a record number of suspicious activity reports (SARs) between April 2018 and March of this year, but only a third of the reports citing potential money laundering prompted criminal investigations.
In an annual report published Tuesday, the National Crime Agency (NCA) said that the 478,437 SARs it received during the 12-month period marked a 3-percent rise in filings from the previous year.
Read more at KYC360.
