The Proceeds of Crime Act 2002 expanded, reformed and consolidated the UK’s criminal money laundering offences. Most of the offences under the Act apply to all individuals and businesses in the UK, however, some apply only to those doing business in the ‘regulated sector’.
A SAR should be made as soon as the knowledge or suspicion that criminal proceeds exist has arisen, especially if consent may be required, or at the earliest opportunity thereafter.
SOCA’s preferred method for reporters to submit their suspicion is the SOCA Suspicious Activity Report Form. SOCA prefers these forms to be submitted electronically but hardcopy versions of the forms (including Limited Intelligence Value Reports) can be found on the SOCA website or obtained directly from SOCA. These can then be posted to the address below. Hardcopy consent requests should be faxed to 0207 238 8286.
If you currently submit by post but would like to report electronically visit the SAR Online System or alternatively contact the Money.web support team
SOCA will not acknowledge any SAR sent by fax, post, or by letter. Electronic submissions through money.web, bulk submission or through the SAR Online system, will receive an acknowledgment which will include an automatically generated ELMER reference number.
If you have submitted a consent request, the Consent Team will contact you directly with the decision by telephone within the seven day notice period, and then post the appropriate letter to you as confirmation.
If you have any queries relating to acknowledgments please write to the SAR Team at UKFIU, PO BOX 8000, London, SE11 5EN.
Visit the BTC website for compliance help and support for firms in the regulated sector.