Money Laundering: UK Parliamentarians

Debate between Baroness O'Cathain and Lord Deighton

Tuesday 14th October 2014 Lords Chamber

[Lord Deighton]

First, my Lords, I need to make the point that having an effective, comprehensive, international campaign against money laundering is a critical weapon for us, and we are taking leadership in this area. I absolutely accept that the implementation domestically needs to be significantly refined. As I have already said, I will work with the FCA and the industry bodies to ensure that we have a more proportionate application of the rules.

[Baroness O’Cathain (Con)]

My Lords—