Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.

Donate to our crowdfunder

Money Laundering: British Banks

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

Alert me about debates like this

Photo of Ian Austin Ian Austin Labour, Dudley North 12:34 pm, 21st March 2017

The Home Affairs Committee estimates that £100 billion is laundered through London every year, but only 0.17% of that has been frozen, so the Minister might as well go to Heathrow and put up a welcome sign for Russian murderers and money launderers. Five criminal complaints have been submitted to UK law enforcement agencies about money laundering connected to the Magnitsky case. Not a single one has resulted in the opening of a criminal case, whereas 12 other countries have opened investigations on the same evidence. So the question is this: what is necessary to get UK law enforcement agencies to do their jobs and prosecute money launderers? Why has that not been working, and what is the Minister going to do about it?