HM Treasury publishes 2025 NRA of Money Laundering and Terrorist Financing
HM Treasury has published its 2025 National Risk Assessment (NRA) of Money Laundering and Terrorist Financing. The report highlights that the UK’s open, globally connected economy—while a strength—also makes it vulnerable to abuse by criminals and terrorists. Key threats include fraud, cybercrime, drug trafficking, tax evasion and the misuse of cryptoassets, property and corporate structures. The report emphasizes the growing complexity of money laundering typologies, including trade-based laundering, informal value transfer systems and the use of professional enablers. Terrorist financing threats are also evolving, with funds often raised through legitimate means and transferred via digital platforms or informal networks.