available here<\/a>) breaks down the \u00a3325 billion figure as follows:<\/p>\n\u2018Hidden movement of profit\u2019 \u2013 \u00a391.9 billion. (Data source: Tax Justice Network)<\/p>\n
\u2018Income associated with offshore wealth assets\u2019 \u2013 \u00a3109 billion. (Data source: Tax Justice Network)<\/p>\n
\u2018Illegal markets\u2019, plus \u2018corruption\u2019, plus, \u2018exploitation-type activities and financing of crime\u2019 \u2013 \u00a3124 billion. (Data source: NCA)<\/p>\n
The report also examined UK-linked offshore centres. When researchers included the dirty money flowing through UK Crown Dependencies and Overseas Territories such as Jersey and the Cayman Islands, the total rose to more than \u00a3788 billion a year.<\/p>\n
UK dirty money problem<\/p>\n
The report warned that its estimates were \u201cconservative\u201d.<\/p>\n
\u201c[The findings] highlight that, despite some progress in recent years, the UK \u2013 and the City of London especially \u2013 remains a global hub for illicit finance,\u201d Finance Innovation Lab said.<\/p>\n
It said that profits \u201cartificially shifted into the UK and artificially shifted out of the UK \u2013 are both forms of illicit financial flows according to the UN definition\u201d.<\/p>\n
\u201cWhile data for certain IFF categories remain incomplete, the available evidence demonstrates beyond doubt that the volume of illicit finance connected to the UK is very large.\u201d<\/p>\n
The researchers added that measuring the scale of \u2018dirty money flowing through the UK is \u201cnot optional \u2013 it is a necessary foundation for effective policy\u201d.<\/p>\n
Agency funding<\/p>\n
The report urged the UK government to increase funding for agencies such as the NCA and Serious Fraud Office. It also called for stronger action against tax secrecy in UK-linked offshore jurisdictions.<\/p>\n
The report also criticised government plans to make London a global hub for crypto assets. It warned that crypto markets are increasingly linked to money laundering and financial crime.<\/p>\n
\u201cThe UK\u2019s global role as a financial hub brings economic benefits, but also attracts criminal, corrupt and tax-abusive activity,\u201d the report said.<\/p>\n
\u201cGovernment plans to make the City a global hub for crypto assets risk exacerbating this.\u201d<\/p>\n
A UK government spokesperson said: \u201cCorruption makes British people poorer and less safe and undermines our democracy. Which is why the government\u2019s anti-corruption strategy was published in December to bring more corrupt actors to justice.<\/p>\n
\u201cNew crypto regulations will bring crypto into the UK regulatory domain by 2027, and we\u2019re recruiting an extra 5,500 compliance officers to tackle tax evasion.\u201d<\/p>\n
![\"AML](\"https:\/\/www.europesays.com\/britain\/wp-content\/uploads\/2026\/05\/phone-tablet-desktop.png\")
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