Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what steps his Department is taking to increase cooperation with British Overseas Territories to help tackle financial crime.

British Overseas Territories (OTs) cooperate with the UK on fighting financial crime and are committed to meeting international standards; including those set by the Organisation for Economic Co-operation and Development (OECD) and the Financial Action Task Force. The FCDO has provided extensive support including funding and direct technical assistance to build local capacity and support the development of essential legislation. The FCDO, alongside HMT and the Home Office, co-hosts regular UK-OT fora on Economic Sanctions, Anti-Money Laundering and Countering Financing of Terrorism. A UK-OT ministerial illicit finance dialogue was launched at the Joint Ministerial Council in May 2023. A preparatory senior officials dialogue will take place in the British Virgin Islands between 12 to 14 September.