Notice to reader
The information on these pages is for general purposes and guidance only and does not purport to constitute legal or professional advice. All the information on these pages relates to circumstances prevailing at the date of publication and may not have been updated to reflect subsequent developments. In particular, readers should be aware of any amendments to the Proceeds of Crime Act 2002 and Terrorism Act 2000.
If you are uncertain about any aspect of the relevant laws and procedures you should seek assistance from your professional representative body or your legal adviser.
Welcome to the Proceeds of Crime Department
On the 1st April 2006, the Serious Organised Crime Agency (SOCA) was created as a result of the Serious Organised Crime and Police Act 2005 (SOCPA). The functions of the UK Financial Intelligence Unit (UKFIU) are now placed within the Proceeds of Crime Department in SOCA.
In September 2005, the Home Secretary and the Chancellor of the Exchequer asked the Chair-designate of SOCA – Sir Stephen Lander - to review the UK SARs regime and to report on how it could be improved under SOCA.
The SOCA SAR Review Team consulted widely with those in the reporting sectors, industry representative bodies, regulators, law enforcement, and government departments. In March 2006, the “Review of the Suspicious Activity Reports Regime” (“The SAR Review”) made a number of recommendations for the overall improvement of the SARs regime. For more information please read the The SARs Review [.pdf, 323 KB]
Within the report 24 recommendations were made, together with an implementation timetable from March 2006 to October 2007. One of the recommendations was that SOCA should accept overall responsibility for the effective functioning of the SARs regime.
Recommendation 8 outlines the need to “provide guidance on the regime in support of the industry level guidance that already exists…”
The following pages are designed to provide you with information on:
- Money Laundering and terrorist finance offences
- Guidance on how to make a SAR
- Link to SAR Online Reporting
- Frequently Asked Questions (FAQs) in relation to SARs
SARs Review - Press Release [.doc, 688 KB]