New analysis from Spotlight on Corruption finds that the UK government spends the equivalent of just 0.042% of GDP (£852 million) per year on fighting economic crime, even though annually economic crime costs the UK economy £290 billion – equal to 14.5% of GDP – at a conservative estimate. Spotlight’s analysis also found that between 2016-2021, law enforcement bodies engaged in fighting economic crime raised £3.9 billion in fines, confiscation, forfeiture and civil recovery orders from criminals and rogue companies, a portion of which could have been reinvested back into these agencies.
Read the full press release here.