Shah & Mahabeer V HSBC Private Bank, Civil Liability Following a SAR

A Briefing Note from Compliance Ireland

Article posted on 05 Feb 2012

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Summary: This briefing note, from Compliance Ireland, looks at the implications of the recent UK Court of Appeal case. It's an important decision for all those with money laundering responsibilities as companies may be liable for clients losses if a transaction is delayed due to a suspicious transaction report where the the suspicion is later proved to be unfounded.

Topics: SAR Suspicion UK