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£325bn Illicit Funds Prompt Calls to Boost UK Crime Agencies

5/25/2026

Summary

Story summary

Finance Innovation Lab estimates at least £325 billion of illicit funds flow through the UK each year, ten percent of GDP.
MPs urged a funding boost for the National Crime Agency and Serious Fraud Office, saying fines and asset seizures would offset costs.
The report, released as the government postponed the Illicit Finance Summit to December, called for pausing London’s crypto-hub plans and transparency of shell-company owners in British Virgin Islands.

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Story summary

Finance Innovation Lab estimates at least £325 billion of illicit funds flow through the UK each year, ten percent of GDP.
MPs urged a funding boost for the National Crime Agency and Serious Fraud Office, saying fines and asset seizures would offset costs.
The report, released as the government postponed the Illicit Finance Summit to December, called for pausing London’s crypto-hub plans and transparency of shell-company owners in British Virgin Islands.