Alan Brown
Main Page: Alan Brown (Scottish National Party - Kilmarnock and Loudoun)Department Debates - View all Alan Brown's debates with the HM Treasury
Money Laundering: British Banks
Alan Brown Excerpts(7 years, 3 months ago)
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Simon Kirby
I hope the NCA and the FCA would, if appropriate, do a considerable amount about it. They are independently operational bodies. It is right and proper that I cannot comment at the Dispatch Box about what may or may not happen. However, if there is wrongdoing, it is right and proper that it is addressed.
Alan Brown (Kilmarnock and Loudoun) (SNP)
As we have heard, HSBC has been a serial offender on money laundering all around the world. It has had fines in the US and in Switzerland, and it has been mentioned again. There were calls for an investigation into other banks in 2012. The “laundromat” scheme was first reported in The Independent in 2014, so yesterday’s news is not actually new news; it just shows the scale of the problem with people using British banks and shell companies registered in the UK. If the UK really is a world leader in money laundering and other financial regulation, how bad are things in the rest of the world, and what is the UK doing to help stamp out the problem elsewhere?