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AML

AML

Our Suspicious Activity Reports (SARs) can make a real difference to the efforts of governments in tackling the type of fraud which impacts society as a whole.

The authorities were able to link a series of SARs filed by one of our offices to a major fraud, taking place across the European Union.

The SARs contributed directly to the arrest of an organised criminal group believed to be responsible for the multi-million dollar scam and resulted in changes in the law. The authorities believe they can now recover a significant proportion of the amount lost and have suggested that the case represents 'an almost perfect model for banking sector and law enforcement co operation'.

The SARs were based on both Norkom alerts and staff vigilance. Analysis of these cases also enabled us to develop a profile of the type of account typically used in this style of fraud and thus avoid opening them in the future.

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Annual Report and Accounts 2009