Question to the Home Office:

To ask Her Majesty's Government what are the most recent annual figures for the amount of money estimated to be laundered in the UK; and whether those figures present an increase on previous years.

The National Crime Agency has recently published the National Strategic Assessment of Serious and Organised Crime, (available at http://www.nationalcrimeagency.gov.uk/publications/905-national-strategic-assessment-for-soc-2018/file) which assesses the scale of money laundering and concludes there is no reliable estimate of the total value of laundered funds that impacts on the UK.

This assessment went on to say that, given the volume of financial transactions transiting the UK, there is a realistic possibility the scale of money laundering impacting the UK annually is in the hundreds of billions of pounds.