- November 30, 2022
- Posted by: FCS Compliance
- Category: News
10am Thursday 26 January
Suspicious Activity Reports (SARs) – the process, minimising delays and avoiding penalties
Fines for non-compliance with AML regulation in the agency sector have increased significantly in the last year – with the average fine now up by 63.7%, and the total value up 980%.*
The number of Suspicious Activity Reports (SARs) dealt with by the National Crime Agency (NCA) in 2022 is expected to top 850,000 – this represents a huge increase when compared to the previous year. The result is that average response times are now much longer.
To help agents avoid fines and prosecution, and minimise delays when reporting suspicious activity, leading experts from FCS Compliance and the NCA will be sharing their top tips with attendees at a special Rightmove webinar on Thursday 26 January.
On the panel
Lead AML Consultant at FCS Compliance
With over 40 years’ service in the police in the investigation of serious and complex financial crime, Malcolm has an in-depth knowledge of how criminals seeks to launder the proceeds of criminal activity on a global scale. He was an accredited NCA Mentor and Financial Investigator.
In this webinar, Malcolm will help attendees understand their legal responsibilities, the potential penalties, and when and how to submit a SAR.
Senior Officer, Reporter Engagement in the UK Financial Intelligence Unit (UKFIU) and in the National Economic Crime Command (NECC) of the National Crime Agency (NCA)
Initially posted to the NCA UKFIU’s International Team, Michael has first-hand experience of writing intelligence logs for use in overseas investigations. He now promotes SARs best practice for UK-based regulated institutions with the goal of increasing exploitation opportunities for law enforcement, both in the UK and abroad.
Michael will discuss what happens to a SAR when received by the NCA, including the use of glossary terms and other key information that is used to help disrupt serious crime in the UK.
Attendees to this live event will have the opportunity to ask questions in the ever-popular Q&A session and should submit these on registration.
Rightmove members only, registration for the webinar is through the Rightmove Hub here.
Title: Suspicious Activity Reports (SARs) – the process, minimising delays and avoiding penalties
Time: 10am to 11am
Date: Thursday 26 January
Cost: Free to Rightmove members
Rightmove members will be able to attend this webinar free of charge.
Visit the Rightmove Hub for further details and to register.
*Credas Technologies, 2022