Banks: Money-laundering — Question

Part of the debate – in the House of Lords at 2:58 pm on 18 December 2012.

Alert me about debates like this

Photo of Lord Sassoon Lord Sassoon The Commercial Secretary to the Treasury 2:58, 18 December 2012

My Lords, I certainly accept that there is unfinished business to be done around the whole "know your customer" and opening bank accounts regime. Many of us know what difficulty that causes, whether on our own account or on that of our children. This is something that we discussed during the passage of the Financial Services Bill. It is interesting that some banks require less detail and paperwork than others. I wish they would all make this process as easy as possible for their customers, consistent with the regulations that apply.