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<p>The Home Office and the National Crime Agency have initiated a SARs Reform Programme
to deliver end-to-end improvements to the SARs regime. This will include improving
the quality of SARs reporting, addressing concerns of defensive-reporting and under-reporting,
enhancing the capabilities of the UK Financial Intelligence Unit, and increasing the
use, exploitation and analysis of SARs by law enforcement bodies. The regulated sector
have been extensively consulted and engaged in the design of the Reform Programme.</p><p>In
addition, the Home Office’s ‘Flag It Up’ campaign works with the National Crime Agency
and regulatory bodies in relevant professional sectors to drive engagement with best
practice guidance on SARs reporting, and prevent potential involvement with money
laundering activities. The NCA also engage on a regular basis with the regulated sector
through the SARs Regime Committee.</p>
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