Suspicious activity reports: Use of glossary codes

Business person filing blank form
By Ken McManus, ICAS

13 September 2016

As reporters of suspicious activity reports (SARs) will know, the National Crime Agency (NCA) has for some time encouraged use of its glossary codes to help identify the nature of the reported offence.  These codes are available from the NCA website.

The glossary has recently been reviewed and new guidance is now available. The new codes come into operation immediately.  There is a short transition period and the old codes will be withdrawn on 1 October.  Practitioners are strongly encouraged to use the glossary codes when making reports.  The list of codes is segmented into some straightforward categories such as economic crimes (includes tax offences), high end money laundering, vulnerable persons and so on.

Unfortunately, the current SARs online reporting system does not contain any drop down menus for code section.  Reporters are therefore advised to include the appropriate code in the narrative of their report.

The new list of codes is available here and the full guidance note can be accessed at the NCA website.

Topics

  • Anti Money Laundering
  • Practice hub

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