The proceeds of crime in England and Wales 2023 to 2024

Drawing on Home Office publications, academic evidence and new analytical modelling, this report estimates the proceeds of certain profit-driven crime in England and Wales in the year ending March 2024. Identified proceeds are estimated to be at least £21.9 billion, though the true total remains unknown. In line with the Proceeds of Crime Act, the report assumes all criminal proceeds are laundered and provides indicative analysis of how these proceeds may be allocated between reinvestment in crime and consumption. It also includes a qualitative assessment of the wider economic and social harms of money laundering.

As an initial step towards addressing a longstanding evidence gap, this exploratory work is intended to be iterative and to inform future research. The report also supports wider cross-government commitments made previously under Economic Crime Plan 2 (ECP2) to transparently improve data on money laundering.