What information should be included in a Suspicious Activity Report (SAR)?
The Serious Organised Crime Agency (SOCA) has provided information on completing the preferred SAR form. To speed up consideration of your SAR, it is recommended that you use SOCA’s glossary of codes for each reason for the suspicion section of the report. Your regulation number is your firm’s ID number. SOCA has produced information on obtaining consent including a number of key points to remember: See www.soca.gov.uk. You will only receive consent to the extent which you requested. For example: We seek consent to finalise an agreement for sale of property X and to then transfer property X into the name of (purchaser) and following payment of disbursements, pay the net proceeds of the sale of the property to (seller). It is vital you clearly outline all the remaining steps in the transaction that could be a prohibited act. For help on submitting a SAR and on consent issues the Financial Intelligence Helpdesk at SOCA can be contacted on 020 7238 8282. For further information see chapte
