Money Laundering

HM Treasury written question – answered on 15th March 2017.

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Photo of Lord Wills Lord Wills Labour

To ask Her Majesty’s Government how many prosecutions of Trust and Company Service Providers have been initiated by HM Revenue and Customs since 1 January 2014.

Photo of Baroness Neville-Rolfe Baroness Neville-Rolfe The Commercial Secretary to the Treasury

HM Revenue and Customs (HMRC) does not act as a prosecuting authority. All prosecutions are authorised by the relevant independent prosecuting authority and, in making their decision, they consider two tests; whether there is enough evidence to prove the case, and whether it is in the public interest to bring the case to court.

For England and Wales this is the Crown Prosecution Service; for Scotland, the Crown Office and Procurator Fiscal Service; and for Northern Ireland, the Public Prosecution Service for NI.

No Trust and Company Service Providers (TCSPs), whether supervised by HMRC or another professional body under the Money Laundering Regulations 2007, were prosecuted in the period from April 2015 - March 2017. Before this date, HMRC did not collate statistics specifically on investigations or prosecutions involving TCSPs.

However, in the period from April 2015, HMRC has commenced a number of criminal investigations that involve TCSPs, which are at various stages in the criminal investigation process.

These include investigations involving various offences and are not restricted to Proceeds of Crime Act money laundering offences or breaches of the Money Laundering Regulations 2007.

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