We have published our Q3 2023 Suspicious Activity Statistics Report (SAR quarterly report), which aims to provide insight, trends, feedback and scenarios to submitters based on SARs received by the FIU.
The report includes a breakdown of predicate criminality, the number of SARs by reporting sector, consent request and grounds for disclosure and new TF typology based on the TCSP sector.
Overall, the banking sector continues to be the largest reporting group, with 49.7% of all SARs submitted in Q3 2023. This was followed by the Trust and Corporate Services Provider (TCSP) sector, with 27.4% of all submissions.As always, high-quality SARs with detailed and relevant data (provided in the correct format) are both a legal requirement and vital in the collective fight against financial crime.
SAR submissions provide an essential trigger for the FIU to assess further, analyse and develop information and suspicion to provide clearer insight and intelligence on a range of threat actors and their financial crime activities, illicit finance trends, emerging threats and ongoing risk understanding.