Terrorist Asset-Freezing etc. Bill (Ministerial Correction)

Treasury written statement – made on 23rd November 2010.

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Photo of David Gauke David Gauke The Exchequer Secretary

On 15 November the Financial Secretary to the Treasury reported to Parliament on the operation of the UK's Counter-Terrorist Asset Freezing Regime for the period July to September 2010.

During the Second Reading of the Terrorist Asset-Freezing etc. Bill, I responded to Keith Vaz about figures published in the report. My response appears on 15 November, Hansard, column 708.

The explanation I gave of the figures was incorrect. For the purpose of transparency and to ensure the report is correctly interpreted in the future I would like to clarify that explanation.

As of 30 September 2010, a total of 205 accounts containing just under £290,000 of suspected terrorist funds were frozen in the UK.

Of that £290,000 approximately £140,000 was frozen under the UK's domestic terrorist asset freezing regime, which is mandated by UNSCR 1373 and implemented by the legislation which the Bill is intended to replace. The remaining £150,000 was frozen under the UN al-Qaeda and Taliban asset-freezing regime.