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The U.K. Financial Conduct Authority on Monday put banks “on alert” over their anti-money laundering controls on cash transactions amid concerns that criminals are moving hundreds of millions of pounds by depositing banknotes into bank accounts via the Post Office.

The FCA said lenders should reduce cash deposit limits, file suspicious activity reports in a timelier manner and “upskill” compliance staff to address AML weaknesses associated with cash deposits via the Post Office, which plays a growing role in providing access to banknotes for individuals and businesses amid widespread bank branch closures.

Lenders should also encourage customers to use more card-based transactions, reduce opportunities for deposits to be made into bank accounts by third parties, and share more intelligence with other financial institutions and law enforcement agencies through the National Crime Agency’s National Economic Crime Center, the FCA said.