Obtaining a Defence Against Money Laundering - How to Draft an Effective DAML SAR

Introduction

There is an ever-increasing government and regulatory focus on Anti-Money Laundering, Counter-Terrorist Financing (AML/CTF) and broader economic crime threats. This is evidenced by a growing body of legislation governing corporate obligations and regular high-profile fines issued, most recently £29 million for AML and sanctions screening failure by the FCA against Starling Bank.

Central to regulatory AML/CTF compliance is the overarching legal obligation to identify suspicious activity and report it to law enforcement authorities via the SAR process.

This webinar will cover what the relevant offences are, when and how to prepare a defence against money laundering (DAML) SAR, what information to include in a SAR and the consequences of failing to report suspicion.

It will include tips on what constitutes suspicion, how to maximise the chances of a SAR being accepted at the first submission and what you should say to your clients and staff while you are waiting for a response.

In addition, this webinar will also cover ‘tipping off’ and specific exceptions to the duty to report suspicion, making it ideal for MLROs, MLCOs, compliance staff and others with direct responsibilities under the Money Laundering Regulations.

What You Will Learn

This webinar will cover the following:

• The money laundering and terrorist financing offences
• The requirement to report suspicion and the failure to report offence
• DAML SARs and Information SARs
• What is suspicion?
• The mandatory contents of a DAML SAR
• The NCA SAR Portal
• Timescales and the moratorium period
• Tipping off and accidental disclosure
• Suspicious transactions and suspicious activity
• Confidentiality and privilege in the legal profession
• The value of SAR intelligence

This webinar was recorded on 16th January 2025

You can gain access to this webinar and 1,700+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.

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