by AdrianaAMLP | Mar 28, 2025
The introduction of a higher DAML threshold and the new SARs Digital Service is improving operational efficiency, enabling law enforcement to more effectively tackle money laundering and related criminal activity. The UKFIU’s SARs Annual Report also highlights...
by Jyotsna Bucktowar | Mar 18, 2025
A financial institution flagged a high-turnover business account with £10M in annual transactions, including a £50,000 fraud-linked transfer and crypto payments. A DAML SAR was submitted to exit the relationship, but the UKFIU refused and escalated it to law...
by AdrianaAMLP | Feb 24, 2025
The UKFIU highlights efforts to combat Illegal Wildlife Trade through initiatives like Project Anton, Europol partnerships, and the Egmont Group’s environmental crimes project. FIs are urged to enhance SARs detection for IWT-related transactions and also addresses the...
by Jyotsna Bucktowar | Jan 27, 2025
A reporter suspected that a business customer was ML and submitted a DAML SAR to the UKFIU to request a defence to return the account’s balance to the customer while ending their relationship with them. Suspicious indicators on the customer’s account included little...
by Jyotsna Bucktowar | Jan 16, 2025
The report highlights significant ML/TF risks in decentralised finance (DeFi), citing vulnerabilities such as weak customer due diligence and anonymity features that obscure transaction origins across decentralised exchanges, lending, and staking...
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