 |
answer text |
The second Economic Crime Plan is underpinned by significant investment of £400 million
from financial year 2022/23 to financial year 2024/25. This funding represents £200
million of government investment and £200 million from the Economic Crime (Anti-Money
Laundering) Levy, which together provide sustainable, long-term funding to combat
economic crime.<p> </p><p> </p><p> </p><p>The Economic Crime (Anti-Money Laundering)
Levy funding will be used over the next three years to benefit the entire anti-money
laundering system in both the public and private sectors. This includes investing
over £100 million in technology, funding for more skilled financial crime investigators,
specialist intelligence teams, and the UK Financial Intelligence Unit. Additionally,
it will fund a team to accelerate the reform of the AML supervisory supervision regime.
In tandem, funding announced at Spending Review 2021 will continue to support reform
of the Suspicious Activity Reports regime, reform of Companies House, and the work
of HM Treasury's Illicit Finance Technical Assistance Unit (TAU).</p>For further details
please see the Spending Review 2021 document which can be found here:<p> </p><p> </p><p>
</p><a href="https://www.gov.uk/government/publications/autumn-budget-and-spending-review-2021-documents"
target="_blank">Autumn Budget and Spending Review 2021: documents - GOV.UK (www.gov.uk)</a>
|
|
