Money Laundering: UK Parliamentarians — Question

Part of the debate – in the House of Lords at 2:50 pm on 14 October 2014.

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Photo of Lord Deighton Lord Deighton The Commercial Secretary to the Treasury 2:50, 14 October 2014

First, my Lords, I need to make the point that having an effective, comprehensive, international campaign against money laundering is a critical weapon for us, and we are taking leadership in this area. I absolutely accept that the implementation domestically needs to be significantly refined. As I have already said, I will work with the FCA and the industry bodies to ensure that we have a more proportionate application of the rules.