Clause 95 - Money laundering: threshold amounts
Serious Organised Crime and Police Bill
4:30 pm
Mr Jonathan Djanogly (Shadow Minister, Home Affairs; Huntingdon, Conservative)
I support my hon. Friend's argument—£100 seems an extremely low figure. My thought process led me to think that perhaps a criminal might have lots of £100 accounts and, therefore, that £100 is the right amount. However, I do not think that that is right, because if he had a lot of accounts, that would create a bad smell that would lead banks to suspect money laundering. That takes me back to the thought that £100 is too low, so I support the amendment.