Lord Oates
Main Page: Lord Oates (Liberal Democrat - Life peer)(1 day, 20 hours ago)
Lords ChamberTo ask His Majesty’s Government whether they will strengthen existing policy, resources and enforcement powers to ensure the prosecution of those in the United Kingdom who have enriched themselves through the corrupt use of public funds in low-and-middle-income countries.
My Lords, the Government remain committed to reducing the harms of illicit finance on developing countries and to holding those responsible to account. The National Crime Agency’s international corruption unit and international anti-corruption co-ordination centre provide critical assistance to help developing countries trace and recover stolen assets and pursue justice via the UK courts. The Government plan to publish a new anti-corruption strategy, which will set out ambitious actions and reforms in this area.
My Lords, I welcome the Government’s focus on this critical issue. The Minister will be aware of the particular role of the illicit gold trade in fuelling the conflict in Sudan and conflicts elsewhere, and in laundering the proceeds of corruption around the globe. Will the Government, therefore, use their forthcoming illicit finance summit to designate additional sanctions packages against corrupt elites, such as those members of the Zimbabwe gold mafia, who have not yet been sanctioned, and their professional enablers, who launder proceeds from the illicit gold trade through the UK and through the United Arab Emirates?
As he knows, we do not comment on future designations, but I thank him for reminding us of the role of illicit gold mining, in particular, in this. This is how many billions of dollars are hidden. It is also associated with horrendous abuses of people and all kinds of illicit activities, including criminal activity across borders. I thank him also for reminding the House of our plans to hold a summit next year, and I look forward to his full engagement in that.