SARs filed by solicitors fall for a third year
Suspicious activity reports (SARs) filed by solicitors in between October 2008 and September 2009 fell to 4,772, a decrease for the third year in a row.
There were 228,834 reports made across the regulated sector last year. Solicitors are the sixth largest group of reporters, behind banks, building societies, money transmission providers, cheque cashiers and accountants.
Solicitors again made the second highest number of consent requests (3,040) and made eleven SARs about suspected terrorist financing, which made them the third highest reporters for that category.
Read the SAR annual review – http://www.soca.gov.uk/about-soca/library
Law society – http://www.lawsociety.org.uk/newsandevents/news/view=newsarticle.law?NEWSID=424873