Julie Cooper – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Julie Cooper on 2016-03-03.

To ask Mr Chancellor of the Exchequer, what steps his Department is taking to tackle the use of money laundering services in the Maldives by UK citizens.

Harriett Baldwin

The Government believes that money laundering is a critical enabler of both terrorism and serious and organised crime. This is why the UK’s anti-money laundering regime contains controls and supervisory mechanisms which aim to make the UK financial system a hostile environment for illicit finances, whilst minimising the burden on legitimate businesses and reducing the overall burden of regulation.

The Government expects UK citizens to comply with anti-money laundering regulations both at home and abroad and strives, particularly through the Financial Action Task Force (FATF), to improve global standards and combat money laundering.