Lord Hylton – 2014 Parliamentary Question to the Home Office

The below Parliamentary question was asked by Lord Hylton on 2014-04-08.

To ask Her Majesty’s Government whether they have plans to instruct the various investigative and regulatory authorities to give priority to suspect deposits, in particular laundered money and investments, originating from Russia and Ukraine.

Lord Taylor of Holbeach

The Government is committed to tackling money laundering and ensuring that the UK is a hostile place for the proceeds of corruption.

Prior to EU sanctions being agreed, the Treasury contacted anti-money laundering supervisors suggesting that they emphasise the increased risk in relation to Ukraine to their firms and remind them of the need to have appropriate systems and controls for due diligence, ongoing monitoring and reporting of suspicious transactions.

It is not possible to comment on specific operational matters.