Extracts from second reading debate (Lords) of the Sanctions and Anti-Money Laundering Bill - Nov 1
Thursday, 2 November 2017 06:42
Lord Hain (Lab):...I had delivered by hand last night to the
Chancellor printouts of transactions and named the British bank
concerned, and I asked that he again refer these to the Serious
Fraud Office, the National Crime Agency and the Financial
Conduct Authority for investigation. This information shows illegal
transfers of funds from South Africa made by the Gupta family over
the last few years from their South African accounts to accounts
held in Dubai and Hong Kong. The last...Request free trial
(Lab):...I had delivered
by hand last night to the Chancellor printouts of transactions and
named the British bank concerned, and I asked that he again refer
these to the Serious Fraud Office, the National Crime Agency and the Financial
Conduct Authority for investigation. This information shows illegal
transfers of funds from South Africa made by the Gupta family over
the last few years from their South African accounts to accounts
held in Dubai and Hong Kong. The last columns of each sheet, now in
the Treasury, show the relevant banks involved, and the records
show all account numbers used. Many of the transactions are
legitimate, but many certainly are not...
The Minister of State, Foreign and Commonwealth
Office (Lord Ahmad of Wimbledon) (Con):...The noble
Baroness, Lady Ludford, who speaks from great experience of the
European Parliament, talked about resourcing enforcement of
sanctions. We have increased the maximum criminal sentences for
breaches of financial sanctions in the Policing and Crime Act to
seven years, which we are enabling in this Bill. This means that a
breach of financial sanctions is a serious crime, which allows
the National Crime Agency to dedicate
significant resources to investigations and prosecutions...
To read the whole debate, CLICK
HERE
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