Draft Proceeds of Crime (Money Laundering) (Threshold Amount) Order 2022 Debate

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Department: Home Office

John McDonnell

Main Page: John McDonnell (Labour - Hayes and Harlington)

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Draft Public Contracts (Amendment) Regulations 2022

Draft Proceeds of Crime (Money Laundering) (Threshold Amount) Order 2022

John McDonnell Excerpts

Future Day:
Tue 13th Dec 2022
Draft Conformity Assessment (Mutual Recognition Agreements) (Amendment) Regulations 2022
Monday 12th December 2022

(1 year, 5 months ago)

General Committees
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John McDonnell Portrait John McDonnell (Hayes and Harlington) (Lab)
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I just want to place on the record my reservations about this measure. I think lifting the threshold to £1,000 is untoward when we know the scale of fraud that is taking place. I am concerned that minimising the multiple transactions is a way of getting round this. In addition, I am anxious about the flow of intelligence that comes from some of the lower-level frauds that are detected. That could flow into tracing higher-level frauds.

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