Money Laundering: British Banks
Debate between Simon Kirby and Antoinette Sandbach(7 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Antoinette Sandbach (Eddisbury) (Con)
The report indicates that many of the laundered funds went into shell companies. Can the Minister explain how the world’s first open register of equitable ownership will help prosecuting authorities to bring to justice those who benefit from such funds?
Simon Kirby
The people with significant control register is open for everyone to see. Thousands, if not millions, of people are able to see it. Transparency is absolutely the best thing to make people aware of wrongdoing and to make sure that nothing is hidden.