News

British authorities used a record 1,800 account freezing orders and other measures to restrain £240 million of suspicious funds in the financial year that ended in March 2024, the U.K. Financial Intelligence Unit has disclosed. Banks and other companies regulated for anti-money laundering purposes in Britain meanwhile filed 872,000 suspicious activity reports to UKFIU in financial year 2023/2024, a slight uptick from the 860,000 SARs they submitted from April 2022 through March 2023, but still far below their record-high tally of 901,000 from April 2021 through March 2022. Those 872,000 SARs included 57,000 "defense against money laundering" requests, which AML-regulated companies file...