Request for Information National Risk Assessment on Money Laundering and Terrorist Financing and National Risk Assessment of Proliferation Financing

Background

The Home Office and HM Treasury are updating the UK’s National Risk Assessments on Money Laundering and Terrorist Financing (NRA) and Proliferation Financing (PF).

The government published money laundering (ML) and terrorist financing (TF) NRAs in 2015, 2017 and 2020. The Financial Action Taskforce (FATF) Mutual Evaluation in 2018 found that the UK has a robust understanding of its money laundering and terrorist financing risks, which is reflected in the NRA and that the national anti-money laundering, counter-terrorist financing policies, strategies and activities seek to address the risks identified in the ML/TF NRA. The government also published the UK’s first PF NRA in 2021 which highlighted the PF risks to the UK and set out the legislative framework in place to tackle these.

Request
To continue to meet FATF’s requirements and to maintain a well-functioning regime, the government must continue to update its understanding of where the ML/TF and PF risks lie.

The NRAs are dependent on evidence, assessments and case studies from across government, law enforcement, supervisors and the private sector. Information from the private sector informs the government’s understanding of the risks in each sector and improves the effectiveness of compliance activity.

The HO/HMT are therefore seeking our sector’s input through the below questionnaire.

• • Wherever possible, please provide supporting data, statistics and case studies to support your points.
  • HO/HMT cannot use anecdotal information such as personal opinion or testimony.
  • Please state if you cannot answer a question due to lack of information.
  • Please provide information from 2020 to now
  • Please endeavour to answer for ML and TF threats where you have information and understanding. Where you are providing information to both, please clearly separate these in your answers. A separate set of questions is available to provide information on proliferation financing looking at information since 2021.

All information you provide will be treated confidentially and will be shared on an anonymous basis.