Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what recent assessment he has made of the effectiveness of global governance in tackling networks of illicit finance.

As the Integrated Review emphasizes, illicit finance is one of the transnational challenges of the decade. As such, it requires a global response. The UK strongly supports the work of the Financial Action Task Force (FATF), the global standard setting body on anti-money laundering and counter-terrorist financing.

In April 2022 UK ministers reaffirmed their commitment to the FATF's mission including tackling the proceeds of corruption.

The FATF works closely with global partners - such as IMF, World Bank, UN, INTERPOL and the OECD - to jointly tackle illicit finance. The UK will continue its key role in FATF, including ensuring FATF remains an effective body to help tackle global illicit finance threats.