The Wolfsberg Group is pleased to announce the submission of its response to the UK’s HM Treasury consultation on improving the effectiveness of the Money Laundering Regulations 2017 (MLRs). This consultation is part of a broader initiative under the Economic Crime Plan 2023-26. Our response addresses two core themes of the consultation: making customer due diligence more proportionate and effective, and strengthening system coordination. We welcome the opportunity to contribute to these crucial discussions, aiming to increase the effectiveness and proportionality of the regulations for both regulated firms and their customers, thereby supporting the ongoing fight against economic crime.