Oral Answers to Questions

Debate between Nigel Mills and Ben Wallace

Monday 15th July 2019 Commons Chamber

[Nigel Mills (Amber Valley) (Con)]

2. What steps the Government are taking to tackle economic crime.

[The Minister for Security and Economic Crime (Mr Ben Wallace)]

Last week, the Government published a new economic crime plan in partnership with the private sector to create a whole-system approach to economic crime. Her Majesty’s Government are investing at least £48 million this year to bolster capabilities to tackle economic crime, including with the establishment of the National Economic Crime Centre, to increase the number of financial investigators and to recover more assets.

[Nigel Mills]

I welcome the new economic crime plan, and I agree we need more resources to finance people to tackle these various crimes. What more will be done under that new plan to strengthen our protections against fraud?

[Mr Wallace]

The new economic crime plan brings together all the different actors on the stage the Government have invested in and identifies all those areas that need to be solved. It is a better analysis of economic crime. We have set up the NECC to bring together all the assets of government—everything from UK Visas and Immigration and the Home Office to the intelligence services—to focus on some of the biggest money launderers and to implement the new powers in the Criminal Finances Act 2017, to deal with criminals and money launderers and to take the money back from them.