Full results of AML SARs thematic review

The majority of Scottish legal professionals demonstrate a robust approach to submitting high-quality suspicious activity reports (SARs), but further support is required to ensure all firms fully understand this critical area of regulatory compliance, according to a new report.

The Law Society of Scotland has today published the full results of its SARs thematic review, conducted in partnership with the UK Financial Intelligence Unit (UKFIU).

The thematic review examined the profession’s knowledge and understanding of the SARs regime, and the quality of SARs submitted, with 50 practices selected to take part.

The final report reveals how the Scottish legal sector interprets its SARs obligations, where disclosures stand out and overarching areas for improvement.

Gemma Turnbull, Head of anti-money laundering at the Law Society of Scotland, said: “SARs are a cornerstone in the UK’s anti-money laundering defences, helping law enforcement trace criminal networks, recover illicit funds, and safeguard the financial system.

“The results of our review offer members valuable, practical insights to help elevate SAR quality and drive stronger compliance across the sector.

“I urge everyone holding the role of Money Laundering Reporting Officer or working within compliance more generally at a Scottish legal practice to read the report and reflect on its findings. It offers valuable insights worth your attention.”