Accountants and many other professions are required to report to SOCA (Serious Organised Crime Agency) any crimes which involve the proceeds of crime.

Drug trafficing, terrorism, robbery, tax evasion?  Absolutely no problem with these.

One big problem with the current regulations is that there is no de-minimus limit.  So if you have reasonable suspiscions that an employee at a client has stolen a pen then you are technically required to report it.

SOCA currently need to employee people to process the multitude of trivial reports they receive every day.

My idea is to give a de-minimus level for reporting of £1,000, with no lower limit in the case of the most serious offences such as drug trafficing, terrorism, etc.

Why is this idea important?

It reduces the time spent by professionals reporting trivial matters to SOCA and in doing so reduces the cost to clients.

It also reduces the cost of SOCA as they no longer need to process tens of thousands of trivial reports.

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