What is a Suspicious Matter Report (SMR)?
A Suspicious Matter Report (SMR) is a report created when suspicious activity is detected that may indicate money laundering, fraud, or other financial crime.
When is an SMR used:
An SMR should be created when:
- A transaction appears unusual or inconsistent
- A client’s behaviour raises concerns
- There are potential signs of illegal activity
Why it’s important:
SMRs are a key part of AML/CTF compliance and may be required to be reported to regulatory authorities.
What to do:
👉 Review any SMRs immediately and take appropriate action
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