Extract from Scottish Parliament debate on the Economic Crime (Transparency and Enforcement) Bill - Mar 9

Michelle Thomson (Falkirk East) (SNP):...Legislation must also address the issue of UK banks. How many members in Parliament are aware that, since 2010, UK regulators have imposed penalties, mostly on banks, of more than £739 million for anti-money-laundering failures? The National Crime Agency has stated that, annually, money laundering alone is likely to amount to hundreds of billions of pounds. I have put that fact on the record on a number of occasions in Parliament...

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