How does legal professional privilege interact with SAR / SMR reporting?
Privileged information is generally protected from disclosure, including in SAR / SMR reports — but the boundary is narrower than many practitioners assume. Information communicated for the purpose of furthering a criminal offence (the "crime-fraud exception") is not privileged. The UK NCA, EU regimes and AUSTRAC guidance all expect lawyers to report where the privilege does not apply to the underlying transactional information, even if related advice is privileged.