Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what recent steps he has taken to prevent banks within the UK banking system being used for funding domestic or international terrorism.

The UK has a comprehensive anti-money laundering and counter financing of terrorism regime and the Government is committed to ensuring our financial system is a hostile environment for illicit finances.

The international money laundering and counter financing of terrorism standards are incorporated into various pieces of UK law, predominantly the Money Laundering Regulations (2007) and the Proceeds of Crime Act (2002) and also the Terrorism Act 2000. All banks within the UK banking system must comply with that legislation.

The Treasury is also responsible for implementing financial sanctions in the UK and for making designations under the Terrorist Asset Freezing etc. Act 2010. We are committed to ensuring that our terrorist asset freezing powers continue to be used and administered in an effective and proportionate way to help protect the public from the threat of terrorism.