Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the risk of money laundering through cash-intensive businesses such as barbershops.

The National Risk Assessment of Money Laundering and Terrorist Financing 2025 assessed the most common money laundering risks the UK is exposed to and found that criminal cash is often laundered through cash-intensive businesses, including barbershops. The National Crime Agency estimates that around £1 billion of criminal cash is laundered through seemingly legitimate businesses, including rogue barbershops, vape stores, mini-marts and sweet shops.

We are tackling this through the newly published Anti-Money Laundering and Asset Recovery (AMLAR) Strategy. The strategy will tackle this growing threat by combining targeted operational action, improved intelligence, and enhanced enforcement capability. The Government has provided £30 million to strengthen the response to organised crime operating on our high streets, including through a new High Street Organised Crime Unit.