Suspicious activity reports
POCA places positive obligations on the regulated sector to disclose the existence of suspicious transactions to the National Crime Agency ('NCA').
Such activity is disclosed via Suspicious Activity Reports ('SAR's). In practical terms, this means a transaction may be delayed (e.g. a bank account frozen/inhibited) whilst the matter is investigated by NCA. As notifying an individual or corporation of a SAR is an offence in its own right, one can be left in the dark and often without access to funds or redress.
This can cause significant inconvenience and/or disruption to individuals and businesses and may call for a robust response. In most instances a SAR will be cleared by the NCA, but in some cases it is the precursor to a criminal investigation or an application for a civil recovery order by the NCA. An application for a restraint order or a freezing injunction may promptly follow. Brett Wilson LLP is almost uniquely placed to advise and represent individuals on these matters and the interplay between criminal and civil proceedings.
We can advise on potential causes of action against your bank and provide ongoing assistance to you in respect of any subsequent investigation conducted by the NCA. We can also advise and represent you in connection with money laundering investigation.
To arrange a preliminary consultation or to find out how we can support you, please send us an email, complete our online enquiry form or call us on 020 3813 5006.
Our Money Laundering Litigation expertise
At Brett Wilson LLP you can trust us to:
- Give advice to individual and corporate clients regarding money laundering regulations and financial regulatory issues.
- Advise in connection with potential personal liability for money laundering offences.
- Provide representation in connection with investigations conducted by the Serious Fraud
Office (‘SFO’), the National Crime Agency (‘NCA’), the Financial Conduct Authority (‘FCA’), the City of London Police, HM Customs & Excise and other law enforcement agencies.
- Advise and represent clients in proceedings for money laundering and fraud-related
- Provide advice and representation where an individual or corporate
client believes they have been the subject of a Suspicious Activity Report
Case Study/Briefing Note