The plan aims to deliver measurable outcomes and improve system-wide performance to reduce economic crime, safeguard national security, and support growth.
Key takeaways from the report include:
➡️ Criminal justice: In 2024, there were 6,845 prosecutions and 3,756 convictions for money laundering;
➡️ Disruptions: Law enforcement “disruptions” rose in Financial Year 2024 (FY2024), including 2,050 for illicit finance and 2,862 for fraud, with high-harm cases also increasing;
➡️ Suspicious Activity Reports (SARs): Reports supported asset denials of over £230m in Financial Year 2023 (FY2023), with Defence Against Money Laundering (DAML) and SARs denying £240m in FY2024; and
➡️ Companies House: By March 2025, 32,000 entities registered on the Register of Overseas Entities (ROE) and 106,000 improper addresses were removed, boosting transparency.
✅ Firms should review their overarching FCC strategy to ensure that control framework enhancements effectively address the variety of risk types highlighted in the report.