Serious Fraud Office
Tell-Tale Signs: Your Role in Preventing Money Laundering by Flagging it Up
Serious and organised crime costs the UK an estimated £24bn a year and money laundering not only allows criminals to hide the proceeds of their crimes, but helps fund further criminal activity. In its latest report, the Government has set out the threats posed by money laundering and is relaunching the Flag it Up campaign to raise awareness and show how you can help stamp it out.
Headed by the National Crime Agency, Flag it Up is a joint campaign, between the Government, the legal and accountancy sectors that aims to raise awareness of the tell-tale signs of money laundering and the risks for firms and professionals from being caught in this financial crime.
Elizabeth Baker, Head of Proceeds of Crime at the Serious Fraud Office, spoke to Flag it Up about the tell-tale signs of money laundering and how you can help catch criminals trying to commit it through using Suspicious Activity Reports(SARs).
Tell-Tale Signs: It’s time to Flag it Up!
- A long term client starts making requests that are out of character
- A client repeatedly asking for services outside your or your firm’s area of expertise
- A client requesting arrangements that do not make commercial sense
SARs are the missing piece of the intelligence puzzle that you can provide. SARs are critical in tackling money laundering, serious and organised crime, corruption and fraud and provide valuable information from the private sector that would otherwise be invisible to law enforcement.
Latest News from
Serious Fraud Office
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Sara Lawson QC appointed as new SFO General Counsel25/02/2019 15:05:00
Following a fair and open competition, the Serious Fraud Office is pleased to announce that Sara Lawson QC is to join the SFO as our new General Counsel in May.
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Former senior executive convicted in Petrofac investigation07/02/2019 12:38:00
In connection with the SFO’s ongoing investigation into Petrofac Limited and its subsidiaries (“Petrofac”), on 6 February 2019 David Lufkin, 51, a British national, and previously Global Head of Sales for Petrofac International Limited, pleaded guilty at Westminster Magistrates’ Court to eleven counts of bribery, contrary to sections 1(1) and 1(2) of the Bribery Act 2010.
Deferred Prosecution Agreement between the SFO and Tesco published24/01/2019 15:05:00
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£1.4 million in confiscation orders reached in fibre-optic fraud case10/12/2018 17:04:00
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