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KB Home / AML / Who is required to submit a Suspicious Activity Report (SAR)?

Who is required to submit a Suspicious Activity Report (SAR)?

Article ID: 2917
Last updated: 10 Jun, 2019

Under Part 7 of the Proceeds Of Crime Act 2002 (POCA) and the Terrorism Act 2000 (TACT), any persons in the regulated sector are required to submit a Suspicious Activity Report (SAR) in respect of information that comes to them in the course of their business if they know, or suspect, or have reasonable grounds for knowing or suspecting that a person is engaged in, or attempting money laundering or terrorist financing.

Article ID: 2917
Last updated: 10 Jun, 2019
Revision: 1
Views: 107
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