£200m suspicion on money laundering passed to NCA
A report released by the Solicitor’s Regulation Authority (SRA)has revealed that the agency has reported suspicious activity equating to more than £200m to authorities in the last 12 months.
26 suspicious activity reports were sent to the National Crime Agency (NCA) in the year to the end of October 2020. 266 matters were escalated to the SRA for review.
Sara Gwilliam, money laundering reporting officer for the SRA, also said that 122 matters were being monitored which could result in futher referrals of money laundering in due course.
Addressing the SRA Board, Sara Gwilliam said:
“Money laundering linked to vendor fraud was identified as a key theme in the SARs we reported. This is where homes are targeted by fraudsters and sold without the knowledge or consent of the true owners, with the elderly and vulnerable often the victims. As MRLO I issued a trend alert on this to flag the issue and raise awareness.”