On 17 July 2025, the UK Treasury published its latest National Risk Assessment (NRA) on money laundering and terrorist financing, alongside a formal response to the recent consultation on strengthening the Money Laundering Regulations (MLR). This assessment identifies the principal risks currently facing the UK, notes how these risks have evolved since the previous NRA in 2020, and reviews government measures implemented over the last five years. [Source: gov.uk]
The updated NRA emphasises:
- Heightened due diligence requirements for complex transactions and dealings involving high-risk countries
- Stricter oversight of pooled client accounts, commonly used by financial and legal intermediaries
- Expanded obligations for information sharing across relevant sectors
- New registration rules for crypto service providers
These proposed policy changes are designed to deliver a more proportionate, risk-based approach—closing regulatory loopholes for higher-risk actors while aiming to reduce compliance burden where risk is minimal. A draft statutory instrument reflecting these changes will be circulated for consultation later in 2025.
The government’s review underscores several trends observed since the third NRA in 2020, including an increased use of digital payment solutions, ongoing vulnerabilities in cryptocurrency services, and evolving strategies deployed by criminal groups. Actions taken in response include updated supervisory guidance, tighter reporting standards, and additional powers granted to enforcement agencies.
| Key Area | Main Change | Objective |
|---|---|---|
| Customer Due Diligence | Enhanced checks for complex/high-risk transactions | Reduce exposure to illicit activity |
| Pooled Client Accounts | Greater scrutiny and transparency | Prevent misuse by third parties |
| Crypto Services | Mandatory registration | Improve sector oversight |
The evolving regulatory landscape is particularly relevant for payment providers and casino operators, with enhanced controls likely to impact onboarding, withdrawal processes, and compliance checks. For further reading, see our pages on Apple Pay withdrawals, using e-wallets in the UK, common issues with casino withdrawals, all withdrawal methods, and the fastest payout options.
For official documentation and the full National Risk Assessment, visit the UK government website.
