We have published our Suspicious Activity Report (SAR) Statistics for Q4 2024. As well as looking at Q4 specifically, it also includes data for the other quarters in 2024, and shows the variations in each quarter.
Key highlights from this report show:
- Number of SARs: A total of 483 SARs were submitted to the FIU in Q4. This was a 7.6% increase when compared to the same period in 2023 and an increase of 17.5% when compared to the previous quarter of Q3 2024.
- Quality of Reporting: Q4 had the highest number of SARs, assessed as being of good standard, and the lowest number of reports did not meet the required standard.
- Criminality Activity: The highest areas of criminality selected by quarter were Fraud and Other - undetermined, followed by Tax crimes and Corruption.
- Consent Requests: There were 601 consent requests in Q4 and 2,159 consent requests overall for 2024.
This report also includes a scenario related to potential typology relevant to Jersey, focusing on bribery and corruption in the Trust Company Service Provider (TCSP) sector.
Information contained in SARs is considered vitally important in the global fight against financial crime. Good-quality SAR reporting allow the FIU to better undertake intelligence research, assessment, and analysis to understand suspected criminal activity, money laundering / terrorist financing / proliferation financing typologies, emerging threats, risks, and trends, among other threat-based requirements.