HMT Publishes Economic Crime Levy Report for 2023/24

➡️ The report outlines the collection and spending of the Economic Crime Levy, introduced in the Finance Act 2022, in the 2023-24 financial year.

➡️ 2,927 entities paid the levy during the year with receipts totalling over £90m.

➡️ £90m was spent in the period, including over £40m on capital investment in new technology and almost £13m on greater resourcing for the wider anti-money laundering system.

✅ Firms subject to the levy should review the report to better understand government’s progress against the levy’s deliverables and how these may impact financial crime prevention more widely.