UK allocates 500 million GBP to combat money laundering

The UK Home Office announced a 500 million GBP investment over three years to recruit 500 officials focused on tracking and seizing criminal assets. The initiative, funded by an economic crime levy on regulated businesses, aims to address threats exacerbated by fintech, crypto, and AI. The National Crime Agency (NCA) reported that over 100 billion GBP is laundered through UK structures annually. The government has already achieved nearly 4,000 money laundering convictions and recovered 350 million GBP in the past year.