Financial Services: Fraud
(asked on 1st February 2021) - View Source
Question to the Home Office:
To ask the Secretary of State for the Home Department, how many suspicious activity reports were filed with regulators in (a) the UK and (b) other countries by UK based financial institutions in each of the last five years.
Suspicious Activity Reports are submitted by reporters to the UK Financial Intelligence Unit within the National Crime Agency.
In the last 5 years, the following volumes of Suspicious Activity Reports have been received by the UK Financial Intelligence Unit. The UK Financial Intelligence Unit does not hold data on whether an institution is based in the UK.
| April 2019 to March 2020 | April 2018-March 2019 | April 2017-March 2018 | October 2015 to September 2016 | Oct 2014 to Sept 2015 |
Credit institution – banks | 432,316 | 383,733 | 371,522 | 348,688 | 318,445 |
Credit institution – building societies | 30,579 | 21,714 | 19,640 | 15,078 | 15,806 |
Credit institution – others | 8,080 | 10,203 | 13,678 | 13,222 | 11,828 |
Financial institution – MSBs | 17,701 | 18,940 | 21,198 | 10,091 | 11,120 |
Financial institution – others | 58,930 | 24,911 | 21,446 | 14,496 | 6,835 |
The Home Office or National Crime Agency does not hold information relating to Suspicious Activity Reports submitted to other countries.
Suspicious Activity Report submission volumes can be found in the SARs Annual Reports which are published by the National Crime Agency, which includes breakdowns by sector. The 2019-2020 report can be found here:
https://www.nationalcrimeagency.gov.uk/who-we-are/publications/480-sars-annual-report-2020/file