Extract from Lords repeat of a Commons urgent question on Alexei
Navalny Lord Collins of Highbury (Lab): My Lords, first I pay
tribute to the courage of the protesters in Russia standing up
against corruption. Fifteen months ago, the Government’s response
to the Russia report said that “driving dirty money and money
launderers out of the UK is a priority.” It confirmed legislation
to strengthen Companies House, make limited partnerships less open
to money laundering and establish a...Request free trial
Extract from Lords
repeat of a Commons urgent question on Alexei Navalny
(Lab): My Lords, first I pay
tribute to the courage of the protesters in Russia standing up
against corruption. Fifteen months ago, the Government’s response
to the Russia report said that
“driving dirty money and money launderers out of the UK is a
priority.”
It confirmed legislation to strengthen Companies House, make
limited partnerships less open to money laundering and establish a
register of beneficial ownership of foreign companies owning UK
property. Is this still a priority, and when will we see the
promised legislation? What is the timetable for broadening the
scope of the Magnitsky sanctions to include corruption?
The Minister of State, Foreign, Commonwealth and Development
Office ()
(Con): My Lords, I am sure that I speak for all noble
Lords when I join the noble Lord, Lord Collins, in commending the
courage of what we have seen, not just in Moscow but around Russia,
in support of Mr Navalny and his early and immediate release from
detention. In response to the noble Lord’s question, the Russia
report remains a key priority, as I said in your Lordships’ House
last week. Our response was issued on the day. In addition to what
the noble Lord mentioned, legislation will also enable security
services and law enforcement agencies, for example, to tackle early
threats of hostile activity. The National Crime Agency offences to
criminalise harmful activity will be strengthened. As I said last
week, we are reviewing visas in tier 1 issued before 2015. We will
be working on the legislative timetable through the usual
channels...
To read all the exchanges, CLICK
HERE
Extract from second
reading (Lords) of the Financial Services Bill
The Minister of State, Cabinet Office and the Treasury
() (Con):...It has recently become clear
that some provisions in the Proceeds of Crime Act 2002 are creating
challenges for some e-money institutions and payment institutions,
such as Revolut, Worldpay and TransferWise. They currently need to
submit a defence against money laundering request to the
National Crime Agency to seek
consent before proceeding with any transaction where there is
suspicion of money laundering, however small. Standard banks do not
have this administrative burden. In certain circumstances they are
exempt from submitting a request for transactions under £250...
To read the whole debate, CLICK
HERE
Written Statement
on Accredited Financial Investigation Powers:
Consultation
The Minister for Crime and Policing ()
I intend to lay a statutory instrument this year which will
grant accredited financial investigator powers to an additional
five agencies. This will bring the total number of agencies with
access to these powers to 36 in addition to all police forces and
local authorities in England, Wales and Northern
Ireland.
Accredited financial investigator powers grant civilians
working for that agency access to certain Proceeds of Crime Act
2002 powers, which assist in the effective recovery of proceeds of
a crime that falls under that agency’s jurisdiction. Accredited
financial investigators have the ability to use financial
intelligence for more complex financial investigations and are able
to contribute to the recovery of the proceeds of crime.
The following organisations have sought access to accredited
financial investigator powers: the Service Police, the Maritime and
Coastguard Agency, the Information Commissioner’s Office, the
Department for the Economy Northern Ireland and the London Fire
Brigade. I have assessed the value of extending the powers to each
of these agencies—in particular whether effective criminal justice
outcomes could be reached in their jurisdictions without access to
these powers—and I have concluded that we should seek to grant the
powers to all five. However, I intend to seek the views of the
wider public as to whether these organisations should be granted
these powers.
Currently, the previously mentioned agencies either rely on
other agencies designated with financial investigation powers—such
as the National Crime Agency or police
forces—or have no access to recover proceeds of crime within their
jurisdiction. Granting these organisations access to the powers
will improve the law enforcement outcomes that they can deliver.
The Home Office committed to grant these powers to additional
organisations in the asset recovery action plan, published in
2019.
As such, I intend to publish a consultation for seven weeks
from 28 January. This consultation will seek to establish the views
from the public on whether or not these organisations should be
granted the financial investigator powers.
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