Failure to Prevent an Economic Criminal Offence

Part of Criminal Finances Bill – in the House of Commons at 5:00 pm on 21st February 2017.

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Photo of Ben Wallace Ben Wallace Minister of State (Home Office) (Security) 5:00 pm, 21st February 2017

We do have to recognise that there is a difference between secrecy and privacy; we have to respect that and to understand when privacy is an advantage and when it is being used secretly, to create a disadvantage or to avoid detection. So the difference between secrecy and privacy is not as straightforward as it would seem. In our lives, we all deserve some element of privacy. Shareholdings in some very major private companies, for example, are not listed—they have to be declared—and that has been established for many years.