NCA UKFIU SARs highlight rising threats in ML, fraud, and illicit company formations – identifying evolving risks from fraudulent registrations to large-scale laundering schemes

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 evidence of the business being legitimate, cash deposited in small amounts in an apparent effort to avoid detection…