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NCA publishes 2019 SARs report

The latest annual report on SARs from NCA highlights:

  • a record number of SARs processed (over 475,000);
  • an increase of over 50% in DAML SARs; and
  • over £131m denied to criminals as a result of DAML requests.

Average turnaround increased slightly from last year – to just over 5 days, which NCA explained by referencing the increase in DAML requests. During the period NCA processed 70 requests for moratorium extension.

Banks still account for the lion’s share of reports – 80%. NCA noted that fintechs and challenger banks are increasing the number of SARs they make, while reports from lawyers and accountants are still low.

 

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Emma Radmore