In 2018, the Law Commission launched its consultation on the reform of the suspicious activity report (SAR) regime created by Part 7 of the Proceeds of Crime Act 2002 (POCA), the so-called "SARs regime". The stated aim of the SARs regime is to improve the prevention, detection and prosecution of money laundering and terrorist financing in the UK. It has, however, been recognised for some time that the SARs regime is not fit for purpose and that reforms are necessary in order to ensure that it is effective.

https://www.dentons.com/en/insights/alerts/2019/july/8/the-law-commissions-report-on-reforming-the-sar-regime