Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what steps his Department is taking to tackle the use of money laundering services abroad by UK citizens.

The Government believes that money laundering is a critical enabler of both terrorism and serious and organised crime. This is why the UK’s own anti-money laundering regime contains controls and supervisory mechanisms which aim to make the UK financial system a hostile environment for illicit finances, whilst minimising the burden on legitimate businesses and reducing the overall burden of regulation.

The Government expects UK citizens to comply with anti-money laundering regulations both at home and abroad and works hard, particularly through the Financial Action Task Force (FATF), to improve global standards and combat money laundering.