The FCA have announced that Suspicious Transaction Reports (SARs) have increased by 24% year on year.

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Securities transactions are reported to the FCA, on a daily basis, at great cost in terms of money and resource to the authorised firms. Initially an increase in SARs would appear to be an increase in suspicious activities but legal experts put it down to more heightened awareness in the market place.

This has certainly been aided by the FCA who have visited many firms encouraging them to meet the reporting levels of their peers. Interestingly, it is actual transactions that are reported, not attempted transactions, so those firms with effective procedures in place to prevent suspicious transactions actually taking place, remain under pressure to report at a level of their less careful peers.
I would suspect that the level of quality leads the FCA receives remains little changed.