Lord Anderson of Swansea
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Money Laundering
Lord Anderson of Swansea Excerpts(3 years, 10 months ago)
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Lord Agnew of Oulton (Con)
My Lords, we have the National Crime Agency as the main crimefighting force in anti-money laundering. It is an extremely effective organisation, and it is well funded. Of course, one could always say that more money is needed, but I can assure my noble friend that we believe that we have adequate resources.
Lord Anderson of Swansea (Lab)
The Minister has mentioned some fines in respect of a limited number of banks, but much money laundering is in respect of property transactions, particularly in London. Since the passing of the Sanctions and Anti-Money Laundering Act 2018, how many prosecutions have there been of professional people who facilitate money laundering: the estate agents, the solicitors and others?
Lord Agnew of Oulton (Con)
My Lords, more than 97,000 organisations are monitored for money laundering in this country and some 54 anti-money laundering inquiries are open with the FCA at the moment.