Question to the HM Treasury:

To ask Her Majesty’s Government, further to the Written Answer by Baroness Neville-Rolfe on 20 February (HL5284), what assessment they have made of the impact of HM Revenue and Customs enforcement actions in relation to money laundering.

Tackling money laundering is a UK-wide issue and receives a cross-Government response. HM Revenue and Customs (HMRC) supervises specific sectors, and investigates high risk activity, in close collaboration with other supervisors and law enforcement agencies.

Effectiveness is best assessed in the round. The latest UK national risk assessment of money laundering and terrorist financing is published on gov.uk^[1]. The assessment factors in information about the impact of anti-money laundering activities, including contributions from across HMRC and other organisations.

[1] https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/468210/UK_NRA_October_2015_final_web.pdf