Responding to illicit and emerging finance
Foreign Affairs Committee
Closed
Inquiry
This inquiry will look at how effectively the UK is responding to the challenge of illicit finance flows across borders, building on the predecessor Committee’s report “Moscow’s Gold”. It will also explore the impact that emerging forms of finance could have on the international norms and rules that govern the …
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11
Recommendations
6
Conclusions
1
Report
1
Oral session
1
Event
Activity timeline 4 events
26 Oct
2022
2022
18 Oct
2022
2022
Oral evidence
18 Oct
2022
2022
Formal meeting (oral evidence session) · Room 8, Palace of Westminster
30 Jun
2022
2022
Oral evidence sessions 1 session
18 Oct 2022
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Foreign Affairs Committee
Adam M Smith · Gibson, Dunn and Crutcher LLP
Maria Nizzero · RUSI
Oliver Windridge · The Sentry
Reports 1 report · click to expand
| Title | HC No. | Published | Items | Response |
|---|---|---|---|---|
| Second report - The cost of complacency: illicit finance and th… | HC 168 | 30 Jun 2022 | 17 | Responded |
Recommendations & Conclusions
1 result
5
Recommendation
Accepted in Part
Second report - The cost of compla…
The Government cannot afford to rely on rhetoric if it is to deliver on its...
The Government cannot afford to rely on rhetoric if it is to deliver on its commitment to tackle illicit finance. Without the necessary means and resources, enforcement agencies are toothless. If the UK is to protect its reputation as a …
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Government Response
The government cites the Economic Crime Levy and Spending Review 21 settlement, representing £400 million over three years, including £100 million per year through the Economic Crime Levy. The allocation round will take place this financial year and will include funding for the Suspicious Activity Reports (SARs) reform program, which will increase intelligence capabilities in the National Crime Agency (NCA).
Foreign and Commonwealth Office
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