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Banks: Loans

Business, Innovation and Skills written question – answered on 8th November 2011.

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Photo of Shabana Mahmood Shabana Mahmood Shadow Minister (Business, Innovation and Skills)

To ask the Secretary of State for Business, Innovation and Skills what recent discussions he has had with banks and other financial institutions on identity checks needed to take out bank loans.

Photo of Edward Davey Edward Davey The Parliamentary Under-Secretary of State for Business, Innovation and Skills

I have held no such discussions.

The Joint Money Laundering Steering Group, an industry association, produces guidance on how financial services firms should interpret rules on identity checks, as set out in the UK money laundering regulations.

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