UK: Huge spike in SFO money laundering reports

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August 1 2018

The number of alleged money laundering reports filed with the Serious Fraud Office (SFO) in the past year has soared to more than five times the level from the previous 12-month period. Figures obtained following a freedom of information (FoI) request show that 112 reports were filed over the year, up from 19. However only four prosecutions were brought.

The FoI request, by Barry Vitou a partner at US firm Greenberg Traurig, asked for figures covering a four-year period. The calendar year 2015 saw the second biggest amount of reports filed, 62.