The SARs Annual report 2011 details the SARs Regime Committee’s review of the operation and performance of the regime over the year from October 2010 to September 2011.
The report focuses on the performance of the UK Financial Intelligence Unit (UKFIU) against the second year of the three-year strategy for the SARs regime that the committee set out in 2009. It also launches a new action plan for the coming year.
This report is part of SOCA’s ongoing commitment to communicate regularly with reporters of SARs, end users and other stakeholders. It demonstrates how their contributions to the SARs Regime have had an impact on fighting crime and terrorism.
Key aspects of the SARs Annual Report 2011 are:
- In spite of a more challenging financial environment impacting on the public sector SOCA has successfully achieved the deliverables set in the 2010 SARs Annual Report.
- The ARENA system with its enhanced interrogation tools is now available to SARs end users providing more extensive analytical capability.
- The new policy on the retention and deletion of SARs implemented following the Information Commissioner’s review of the operation and use of the SARs database.
- A set of criteria for direct access to SARs has been produced which must be met by any organisation seeking direct access to SARs through the Money.Web or ARENA systems.
Detailed report link: here