The UK Financial Intelligence Unit (UKFIU) has published three new SARs Best Practice Guidance documents:

• Chapter 1: Using the SAR Portal
• Chapter 2: Submitting a SAR
• Chapter 3: Understanding DAMLs and DATFs

The updated guidance, along with all other UKFIU resources, can be accessed via the NCA website here: Suspicious Activity Reports – National Crime Agency

This guidance replaces all previous UKFIU guidance, which have now been withdrawn and should no longer be used.

All regulated entities are expected to:

• Review the updated guidance carefully.
• Update internal policies and procedures where required to reflect the new guidance.

The Law Society have also updated its Suspicious activity reports guide which explains how and when to make a suspicious activity report (SAR), what to include, how to request a defence against money laundering (DAML) and what happens if you fail to report suspicious activity.