Responding to illicit and emerging finance

Foreign Affairs Committee Closed Inquiry
Opened: 1 Feb 2022 Closed: 26 Oct 2022 Parliament page
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 … Read more
11 Recommendations
6 Conclusions
1 Report
1 Oral session
1 Event
Activity timeline 4 events
26 Oct
2022
Report published
18 Oct
2022
Oral evidence
18 Oct
2022
Formal meeting (oral evidence session) · Room 8, Palace of Westminster
30 Jun
2022
Report published
Oral evidence sessions 1 session
18 Oct 2022
View on parliament.uk
Foreign Affairs Committee
Adam M Smith · Gibson, Dunn and Crutcher LLP Maria Nizzero · RUSI Oliver Windridge · The Sentry
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
2 results
Clear
6 Recommendation Deferred
Second report - The cost of compla…
The Government should publish its long-awaited review of the Tier 1 Investor visa scheme without...
The Government should publish its long-awaited review of the Tier 1 Investor visa scheme without delay. It should also explain: whether it intends to review Investor visas issued since 2015; what action it will take in relation to those who … Read more
Government Response
The government notes the recommendation and states that the review of the Tier 1 Investor visa scheme is being finalised and it is their aim to publish it in the near future.
Foreign and Commonwealth Office
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10 Recommendation Deferred
Second report - The cost of compla…
The vectors of illicit finance are often companies.
The vectors of illicit finance are often companies. Therefore, the FCDO should work across Government to encourage reform of outdated and ineffective corporate criminal liability laws which mean that it is difficult to hold large companies to account for economic … Read more
Government Response
The Government notes this recommendation and is carefully assessing the options presented by the Law Commission's review of how corporates could be better held to account for committing serious crimes, and continues to work collaboratively with them and other key stakeholders to review and take forward sensible reforms.
Foreign and Commonwealth Office
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Government Response AI assessment · 17 of 11 classified
Accepted 9
Accepted in Part 1
Acknowledged 5
Deferred 2
Total 11 recs + 6 conclusions