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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 Simon Kirby Simon Kirby The Economic Secretary to the Treasury 12:34 pm, 21st March 2017

My hon. Friend will be pleased that the fourth money laundering directive, which the Government are consulting on as we speak, includes provision for a more proportionate approach to that very issue, and I hope he takes part in the consultation. I also hope that the banks, with FCA guidance and a Government steer, will have to take a proportionate approach in the very near future.