Global Anti-Corruption Sanctions Debate
Full Debate: Read Full DebateDepartment: Foreign, Commonwealth & Development Office
Lord Chidgey
Main Page: Lord Chidgey (Liberal Democrat - Life peer)Department Debates - View all Lord Chidgey's debates with the Foreign, Commonwealth & Development Office
(3 years ago)
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Lord Ahmad of Wimbledon (Con) [V]
On the second question, I will need to take that back and will write to the noble Baroness on the scope. On the specific actions we have brought forward, there are two key elements: bribery and misappropriation. They relate specifically to individuals, whether it is a person who is working to the advantage of a foreign public official or a foreign public official receiving such an advantage. Misappropriation of a property occurs where a foreign public official improperly diverts property entrusted to them in their official role. This may, in answer to the noble Baroness’s question, be intended to benefit them or a third party. “Property” can include anything of value. As to the scope and how that would be seen, each individual case will be assessed on its individual merits and considerations.
Lord Chidgey (LD) [V]
My Lords, I declare my interest as a member of the advisory board of Transparency International UK, which, together with Global Witness, is part of the UK’s anti-corruption coalition. A stand-alone global anti-corruption regime in the UK will be welcomed, and an active sanctions regime will be a powerful tool in supporting democracy, the rule of law and good governance. The Statement mentions the improvement of the UK’s position in Transparency International’s Corruption Perceptions Index, from 20th to 11th. It points out that the system to prevent dirty money from entering the UK is failing, with an excess of £100 billion in illicit funds impacting the UK each year. Will the Government take note of and act on Transparency International’s recommendations for reforming the anti-money laundering supervisory regime?
Lord Ahmad of Wimbledon (Con) [V]
My Lords, we take the recommendations seriously and will ensure that, as has been suggested, they are fully evaluated to see how we can further our own domestic regime to ensure that the issue of money laundering can be tackled head on.