The Home Office has published an outcomes progress report on the Economic Crime Plan 2, which was originally published in March 2023.
It highlights:
- increases in both prosecutions and convictions for both principal and non-principal money laundering offences;
- increased disruptions for specific targeted economic crimes;
- work done on analysing how SARs contribute to asset recovery – with SARs helping in asset denials of around £230m in 2023, or 36% of the total assets denied;
- 32,000 entities now being registered with Companies House as Overseas Entities, with over 100,000 addresses removed during the year to 31 March 2025 when personal data had been used without consent;
- fewer recorded cases of sanctions breaches but with a much higher rate of closed cases compared to the previous year;
- a broadly unchanged value of fraud losses despite a rise in incidents;
- an 88% conviction rate for fraud offences during the 5 year period to end of 2024;
- the finance industry preventing around 67p in every £ of attempted unauthorised fraud,
There will be another update in 2027.