The scale of money laundering, fraud and other economic crime in the UK, is thought to run to tens or hundreds of billions of pounds per year. In December 2019 the Treasury Committee found various regulatory and legislative failings in the way in which these crimes were being tackled in the UK. It urged the Government to make improvements to the supervisory system and to introduce new powers to combat economic crime. The Government agrees about the need to tackle these crimes. It set out its overall approach in its July 2019 Economic Crime Plan. The Plan covers the years 2019-2022 and draws together all the work being conducted by the public and private sector. The Royal United Services Institute said that as at September 2020, 23% of actions in the plan had been completed, 59% were in progress, 9% were overdue, 6% of actions either had no due date or had been paused.
Documents to download
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The Big Society Bank/Capital and its role in society (446 KB, PDF)
The BSB became the destination for money previously identified by the dormant fund legislation, plus a contribution from the main banks under the project Merlin initiative. Renamed Big Society Capital, the organisation was remodelled by the Liberal Democrat-Conservative Coalition government. The BSC is a catalyst for other social investment vehicles, providing both funding, guarantees and support for such organisations. It is not be a direct grant making body in its own right.
It is now called the Big Society Capital Group. The note gives a list of recipients of BSC funding.
Documents to download
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The Big Society Bank/Capital and its role in society (446 KB, PDF)
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