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 […]

SFO, Combating major fraud and corruption – The Serious Fraud Office aim is to protect society from extensive, deliberate criminal deception which could threaten public confidence in the financial system.  They investigate fraud and corruption that requires investigative expertise and special powers to obtain and assess evidence to successfully prosecute fraudsters, freeze assets and compensate […]

JMSLG publishes amendments to money laundering guidance – Following consultation on a version published in August (Part I) and September (Part II), the Joint Money Laundering Steering Group has published its final amendments to its December 2007 guidance. They have been submitted to HM Treasury for ministerial approval.  Revised versions of Part I and Part […]

2009 Corruption Perception Index released by Transparency international –  NGO Transparency International* has released its 2009 Corruption Perceptions Index [CPI], which shows their estimates of the ranking and score of countries in their perceived level of public-sector corruption. The UK came in tied with Japan at 17, and the United States at 19. Somalia came […]

SOCA publishes Suspicious Activity Reports Regime Annual Report The Serious Organised Crime Agency (SOCA) has published the Suspicious Activity Reports (SAR) Regime Committee Annual Report. The report is the Committee’s assessment, for Home Office and Treasury Ministers, of the operation of the SARs regime from October 2008 to end of September 2009. http://www.soca.gov.uk/assessPublications/downloads/SARs_Annual_Report_2009.pdf

Margaret Cole outlines the FSA’s financial crime agenda – On 19 November 2009, the FSA published a speech by Margaret Cole, FSA Director of Enforcement, on the FSA’s agenda for fighting financial crime. In her speech, Ms Cole talked about the FSA’s “frontline” work as gatekeeper and supervisor in relation to financial crime, as well […]

FSA to be granted additional powers to punish white collar crime: A raft of new measures designed to give regulators more power in tackling city crime are to be unveiled in the Queen’s Speech this week. The FT reports today that Chancellor Alistair Darling will propose strengthening the FSA’s power to punish individuals and banks […]

FATF issues Follow-Up Report on United Kingdom – The Financial Action Task Force [FATF] has published its Mutual Evaluation Fourth Follow-Up Report on Anti-Money Laundering and Combating the Financing of Terrorism, with respect to the United Kingdom. Readers who need this resource for reference purposes can find it here: http://www.fatf-gaci.org/dataoecd/44/8/44048060.pdf