Question to the Home Office:

To ask the Secretary of State for the Home Department, what plans the Government has to increase funding for organisations tackling economic crime including (a) fraud, (b) money laundering and (c) corruption.

The total SR21 settlement and the Economic Crime Levy represent an overall package of circa £400 million to tackle economic crime over the next three years, including support for the National Economic Crime Centre (NECC) and law enforcement.

This investment allows us to continue our delivery of tackling Economic Crime, for example through the Suspicious Activity Reporting Reform programme. For fraud, we are investing in the law enforcement response, working with industry to remove the vulnerabilities that fraudsters exploit online, and replacing the current Action Fraud system with a new Fraud and Cyber Reporting and Analysis Service. Funding decisions from 2023-24 onwards remain subject to Departmental and HMT Economic Crime (Anti-Money Laundering) Levy allocations.