Asked by: Helen Goodman (Labour - Bishop Auckland)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will publish the agenda for the Financial Action Task Force plenary meeting in June 2018.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Financial Action Task Force (FATF) is the international standard-setting body for Anti-Money laundering (AML) and countering the financing of terrorism (CFT). The FATF Plenary, its decision-making body, meets three times a year.
Due to the sensitive nature of Plenary discussions, agendas are not made public ahead of meetings. As is usual, following the June Plenary we will place a letter in the House library to update on developments at FATF.
Asked by: Helen Goodman (Labour - Bishop Auckland)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will set out all companies that have been fined by HMRC for breaching the Money Laundering Regulations 2017 after June 2017.
Answered by Mel Stride - Secretary of State for Work and Pensions
As part of the new Money Laundering Regulations introduced in June 2017, HMRC has a duty to publish information about penalties charged under the Regulations.
Publishing decisions will be made on a case-by-case basis, considering proportionality, size of penalties and any impact on the financial markets or an ongoing investigation. These considerations will inform whether HMRC publishes with full identity, anonymously or not at all in a listing on GOV.UK.
HMRC is currently considering all relevant penalty cases and, where appropriate, will publish details on GOV.UK shortly and on an ongoing basis thereafter. All businesses receiving a penalty under the new regulations have been informed of HMRC’s duty to publish.
This requirement was not in the Money Laundering Regulations 2007 and the details of any penalties issued under those regulations cannot be published or disclosed.