Newsletter No. 1 - 2021. Suspicious Transaction Reports July-December 2020

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The UIF has published the first edition of 2021 of its newsletter concerning the activities carried out in the second half of 2020.

The number of suspicious transaction reports (STRs) that the Unit received confirms a constantly increasing trend and reached a new peak, with 113,187 STRs transmitted during 2020.

In the second half of 2020, the UIF received 60,220 reports, a 10.3 per cent increase over the same period of the previous year, and analysed and sent 59,760 reports to the investigative bodies. In the same period, the Unit issued 15 suspension orders for suspicious transactions, for a total amount of €10.4 million.

In November, the UIF published new anomalous behaviour indicators concerning transactions relating to tax evasion.

In the second half of 2020, the Director of the UIF attended two parliamentary hearings, one on organized financial crime linked to the COVID-19 crisis and one on the European Commission's Action Plan.