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Financial Intelligence
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NCA is the UK's Financial Intelligence Unit. As such it receives and analyses
suspicious activity reports (SARs) concerning suspected proceeds of crime in
order to counter money laundering and terrorism, and makes them available to
law enforcement for appropriate action.
SARs are also known as 'disclosures' – and can contribute intelligence to
existing law enforcement operations, identify the proceeds of crime, and
initiate investigation into previously unknown criminal activities.
The impact of SARs in reducing crime
Whilst comprehensive data is not held on the overall number of prosecutions,
convictions, and other crime reduction and prevention actions taken as a result
of SAR information, the following examples illustrate their value:
HMRC indicates that around a fifth of SARs received identify a new subject of
interest and a quarter lead to new enquiries in relation to direct taxation
matters.
About 20 to 30 per cent of SARs disseminated to the National Terrorist
Financial Investigation Unit either led to a longer term investigation, or
added substantially to an existing investigation.
A single SAR identified hundreds of thousands of pounds of serious fraud and
indicated that the criminal property was being laundered. Several hundred
thousand pounds were restrained as a result of an investigation initiated
following development of this SAR.
A five figure cash sum was identified as the realisable assets of drug
trafficking as a result of a SAR.
Two arrests and substantial quantities of drugs were seized as a result of a
drug trafficking investigation which was given direction by a SAR.
Three arrests in two separate cases were made following investigation of SARs
which indicated the proceeds of fraud.
A five figure cash seizure resulted from a SAR which alerted law enforcement to
the latest intentions of an individual previously suspected of money
laundering.
A number of SARs enabled law enforcement to link a subject responsible for
suspicious cash placement into a wider criminal network. The law enforcement
agency reported that without the SAR it would not have been able to take the
investigation further.
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