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Money Laundering: British Banks

Part of the debate – in the House of Commons at 12:34 pm on 21st March 2017.

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Photo of David Nuttall David Nuttall Conservative, Bury North 12:34 pm, 21st March 2017

Having witnessed at first hand the anti-money laundering procedures of UK banks, when I tried to keep open an existing bank account, I wonder how any organisation has managed to launder ill-gotten gains through our banks, and I can only conclude that it is because complying with the regulations is seen as no more than a tick-box exercise. Does my hon. Friend agree that banks should adopt a more proportionate and common-sense approach when dealing with members of the public?