Suspicious Activity Reporting Process Review

Tender description

This opportunity has been to identify a Supplier from the CCS MCF3 Framework, to recommend a reporting model that allows HMRC to discharge its legal obligation to report suspicions of money laundering (ML) and terrorist financing (TF) activity to the National Crime Agency / National Economic Crime Centre (which houses the UK Financial Intelligence Unit). HMRC require the appointed supplier to recommend a draft policy framework outlining the types of activity that should, as a priority, be reported to the NCA / NECC via the Suspicious Activity Reporting (SAR) regime, and those which can be provided through alternative channels, such as operational reporting.