The Serious Organised Crime Agency (SOCA) of the United Kingdom is an Executive Non-Departmental Public Body sponsored by, but operationally independent from, the Home Office.
The Agency was established by the Serious Organised Crime and Police Act (SCOPA) (Cap. 15), 2005 and came into being on 1 April 2006 following a merger of the National Crime Squad (NCS), National Criminal Intelligence Service (NCIS), that part of HM Revenue and Customs (HMRC) dealing with drug trafficking and associated criminal finance and a part of UK Immigration dealing with organised immigration crime (UKIS).
SOCA is an intelligence-led agency with law enforcement powers and harm reduction responsibilities. Harm in this context is the damage caused to people and communities by serious organised crime. It is responsible for dealing with financial information concerning suspected proceeds of crime in order to counter money laundering.
In January 2007, the UK Government introduced the Serious Crime Bill to Parliament setting out Government proposals to merge the operational elements of the Assets Recovery Agency (ARA) with the Serious Organised Crime Agency.
The functions of the UK Financial Intelligence Unit (UKFIU) are placed within the Proceeds of Crime Department in SOCA.
The UKFIU receives and analyses suspicious activity reports (SARs) concerning suspected proceeds of crime and terrorist financing in order to counter money laundering and terrorism, and makes them available to law enforcement for appropriate action. In 2005, the UKFIU received almost 200,000 SARs.
In March 2006, the "Review of the Suspicious Activity Reports Regime" ("The SAR Review") made a number of recommendations for the overall improvement of the SARs regime. For more information please read the The SARs Review.
The UKFIU also includes the National Central Office for the Suppression of Counterfeit Currency (NCO) which is responsible for all matters relating to the counterfeiting of currency and protected coins.
