Money Laundering

Yvette Cooper Excerpts

Monday 19th March 2018 Commons Chamber

[Mr Wallace]

If there are criminal assets, we now have the powers to do that. We will bring forward any cases where we have collected the evidence and prepared a case. As I said, the Criminal Finances Act became law on 31 January, so we now have those powers. On sanctions, the sanctions Bill is currently transiting the House. We will bring forward our amendment in due course on Report. I hope we will work across the House to ensure the amendment is acceptable.

[Yvette Cooper (Normanton, Pontefract and Castleford) (Lab)]

The Minister will be aware of the allegations in the press that the First Deputy Prime Minister of Russia owns two flats in Whitehall through a company worth over £11 million. Does the Minister believe that he has the powers to know whether that is true? If he does not, when will those powers be in place?

[Mr Wallace]

I do not think I have to tell the Chair of the Home Affairs Committee about standing at the Dispatch Box and commenting on an individual case. She will know that, through our intelligence agencies, the police and a variety of partner organisations, we have the ability to find out information about people and gather evidence, if it is there, to make sure we make a case either to serve some of the new measures I have mentioned in the Criminal Finances Act or take action under the Proceeds of Crime Act 2002 and other measures that have been around for some time. We will not hesitate to do that if we feel that it is the right thing to do. It does not matter who that person is—whether they are a politically exposed person, or whether they are linked to friendly countries or adversaries—we will take action to take that money. I do not want that reputation for London and I know the right hon. Lady does not.