Jersey FIU SAR Reporting Q3 reports published 9 November 2023
01/02/2024
The Jersey FIU has published its Q3 2023 Suspicious Activity Statistics Report (SAR Quarterly Report), which aims to provide submitters with insight, trends, feedback, and scenarios based on SARs received by the FIU.
The report includes a breakdown of
- Predicate criminality,
- The number of SARs by reporting sector,
- Consent request
- Grounds for disclosure and
- New TF typology based on the TCSP sector.
Overall,
- The banking sector remains the largest reporting group, with 49.7% of all SARs submitted in Q3 2023.
- Followed by the Trust and Corporate Service Provider (TCSP) sector, with 27.4% of all submissions.
As always, high-quality SARs with detailed and relevant data (provided in the correct format) are both a legal requirement and vital in the collective fight against financial crime.
SAR submissions provide an essential trigger for the FIU to assess further, analyse and develop information and suspicion to provide clearer insight and intelligence on a range of threat actors and their financial crime activities, illicit finance trends, emerging threats and ongoing risk understanding.
https://jersey.police.uk/about-us/departments/financial-crime-(jfcu)/reports-and-updates/
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.