Crime agency gets record reports of suspicious financial activity - Nicola Finnerty quoted in Financial Times

The UK's National Crime Agency received a record number of reports flagging potential money laundering, terrorist financing and other suspicious financial activity this year, but only one in three reports relating to money laundering resulted in a criminal investigation. Nicola Finnerty, partner in our criminal litigation team comments on this issue in the Financial Times.

Nicola says:

A lack of understanding of the SARs regime was creating reports which are unnecessary or of such poor quality that they are worthless".

This places a huge drain on an already under resourced enforcement agency with the potential consequences that good quality SARs and intelligence are neglected".

This article was first published in Financial Times on 7 November 2019 which you can read in full by clicking here (subscription required).

Further information

For further information on the issues raised in this news post, please contact a member of our criminal team.

About the author

Nicola Finnerty is a partner in the criminal litigation team. She has experience of fraud, corruption  (including the Bribery Act) and cartel matters, financial compliance, money laundering, asset seizure and confiscation cases, through to sexual offence cases, drugs, murder and offensive weapon crimes.