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The UK Financial Intelligence Unit (UKFIU), housed within the National Crime Agency, has national responsibility for receiving, analysing and disseminating financial intelligence submitted through the Suspicious Activity Reports (SARs) regime. SARs alert law enforcement to potential instances of money laundering and terrorist financing and are a vital source of intelligence, not only on economic crime but on a wider range of criminal activity.
These educational podcasts are part of the UKFIU’s new digital presence delivering a smarter approach to fighting crime, in line with UKFIU priorities of reducing harm, protecting the integrity of the UK economy and ensuring that there are no safe spaces for economic crime or terrorism financing.
In this episode our panel of legal experts discuss key considerations and challenges facing legal professionals when it comes to anti-money laundering (AML) and suspicious activity reporting. The legal sector covers everything from large global firms down to sole practitioners and our panellists discuss key money laundering threats, risk areas and the indicators which firms and sole practitioners should be looking for.
For the subtitled version of this episode go to: https://youtu.be/FztrHRW0-7U
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SRA – Solicitor’s Regulation Authority
MLRO- Money Laundering Reporting Officer
AML – Anti-money laundering
WTW – Willis Towers Watson
FCA – Financial Conduct Authority
CDD – Customer Due Diligence
OFSI – Office of Financial Sanctions Implementation
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Further information can be found here:
